Graeme, RE: ACLY - the next ZITL! Two fun points (for shorts).
1. Oops! ACLY needs to restate earnings. They forgot to include over 1M shares held by CEO.
biz.yahoo.com
2. Oops! Heavy insider selling - but they forgot to file with the SEC. From 10KSB: sec.gov
"(i) Mr. Wilhelm, a director of the Company, failed to file Forms 4 for the months of July and August 1997 to report sales of an aggregate of 87,400 shares in the open market, which will be reported in an appropriate filing with the Securities and Exchange Commission; ii) Mr. Arnold, a director of the Company, failed to file Forms 4 for the months of February, March and June 1997 to report sales of an aggregate of 150,000 shares in the open market by certain trusts for which he is a trustee, which will be reported in an appropriate filing with the Securities and Exchange Commission; and (iii) Mr. Geimer, an executive officer and director of the Company failed to file a Form 4 for the month of December 1996 to report the sale of 60,000 shares ..."
Some facts:
Market Cap = $156M. Annual Sales = $2.4M.
EPS $0.12. But their tax loss carryforwards are almost used up.
Regards, Bill |
