ACII - AmeriChip International, Inc Message Board

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Technology Stocks : ACII - AmeriChip International, Inc

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From: BarclayDonaldson	2/28/2008 9:20:58 AM
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Revenue for Q4 was $983k. Unfortunately, dilution continues to be heavy and that's why the PPS is suffering. At the end of the quarter (11/30/07), the O/S was 184M. They have issued 38M shares in the last three months. Looking at FY '07, the O/S was 65M (split-adjusted) at the beginning. At the end, it was 184M. That is almost triple. Factor in the last three months and it has more than tripled. I thought things were supposed to get better after acquiring KSI?!?!?! Now, revenues have more than tripled since acquiring KSI. But looking at the last quarter, revenues increased 13.9% ($863K to $983k) while the O/S increased 18.7% (155M to 184M). Based on the guidance PR, revenue will increase 27.1% ($983k to $1.25M) for Q1 '08, we already know the O/S increased 20.6% (184M to 222M). That does not factor in the EDI orders PR'd since we don't know if that was on top of or included in the $1.25M estimate. With KSI growing, I did not expect them to be pumping almost 40M shares into the market per quarter (that's 280M pre-split). That is quite a large amount and should leave it as no surprise as to why the PPS is going down, IMO. And IR tells us they "don't understand" why the PPS is dropping. Yeah, right......

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