Survivor:
This whole deal with rruff started when I pointed out that LBWR was making as much money annually as one person working in a factory earning $14.23 per hour.
When I first posted my findings your comment was "weird".
rruff then said:
"Man, if that's not a moronic generic attempt at a bash, I don't know what is.
It's a pinkie that actually has revenues and earnings and next year the growth is supposed to be significant.
"Get a clue..."
So in essence what happened was that I became an instant basher for for disseminating information that should be pertinent to an investors decision to buy the stock.
In the past I questioned Soros credibility for promoting the stock based on its fundamentals.
Once I was targeted I dug deeper into the finacials and published more pertinent information that apparently those that targeted me did not want to have made public. Specifically that the company ONLY showed positive earnings because of dilution.
When a company publishes misleading information I will attack it:
"For the nine months ended September 30, 2006, net income was $21,058, compared to a net loss of $97,243 during the same period in 2005, an increase of $118,302."
The question is, "how did the company increase earnings by $118,302?" My take on it is that they did it by issuing over $100,000 worth of stock if I read the financials correctly.
For those who might be interested in "investing" in LBWR I would think that they might want to know the above information.
As it is, the company as no audited financials, (neither did SLJB) and if the company was so transparent why didn't they let shareholders know that they built their positive earnings PR on dilution, not on actual sales?
In reality, the company is no more transparent than many other pinkies. There is no way of verifying the numbers from "pinksheets" and to my knowledge I haven't seen any numbers posted from the TA regarding shares O/S either.
To value a company at $12,000,000, supposedly transparent or not, that shows a consistent losses is totally absurd.
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