I know your source...Dodi Zirkle. Of course she got her info from
the independent research analyst that wrote about a 10 page summation of where MIOA is right now.
It is stated in that summation the 40% growth rate over the next few years.
Did you also read that the stock should be around 4.00in 1998. Not
now or in December, but next year!!
Read the thread of old and the sec documents to confirm what I am about to say.
The bogus means that the earnings are not, I repeat, NOT reproducible.
In the first quarter, they sold one of their cath labs for 800,000 on
March 31, 1997. Notice in the 10-Q, there is only revenues of 1.1 million and
1.5 million in expenses before you add in the 800,000 sale of equipment!!
In the second quarter, there are 1.2 million in revenues and 1.5 million in expenses
before you add in the intentionally not disclosed source of 600,000 to put MIOA over the
top for the second straight quarter. They settled with tula business and
received 1.1 million in cash. Some of this was used for the earnings.
This leaves about 500,000 to be used for this quarter, since they have added no new revenues
and will do the same expenses, in order to put them over the top again. The earnings
to date is 800,000(a small .15eps maybe for the diluted shares, which are
only going to become more diluted). That 800,000 is NOT reproducible, see!!!
MIOA has a chance to do great things. It is that they are giving out too many shares, not growing fast enough,
not following through on what they promised. We were supposed to get a dividend
in the form of stock in May. No dividend, and its almost October!!!
That report was unimpressive to say the best! It is clear that operating
revenues are not outdoing expenses. Clear as a bell.
Good luck pal. It would be a miracle if this stock sees 4.00 in the next 12 months.
Miller |
