I wonder what John Palermo meant by -
| John Palermo, President of Quadrax's wholly-owned subsidiary Victor Electric Wire and Cable,
| reports, ''We are very pleased with our six month performance since we were acquired by
| Quadrax. We have thus far generated $600,000 in cash flow and add $2,000,000 in equity to the
| Quadrax entity. We are broadening our customer base and anticipate earning new business with a
| variety of companies outside the U.S. Our long term contracts coupled with our extensive pipeline
| and quotations for new business should make for a marked improvement in our 1998 revenues.
Does he mean that $600,000 in profits went to Quadrax central office? Or that Victor only had cash flows of $600,000 in their first six months? What happened to that $18million business we were told about?
$2,000,000 in equity is just paper money - why mention it?
"Broadening our customer base" and "marked improvement in 1998" worry me a lot - how well is Victor doing? |
