YES, YES, YES , YES, YES, YES!!!!!!!!!!!!!!!!!!!!!!!!!
James, KY, Pope, and anyone else. You are so close. You sniff it, you smell it, you know it. Now, believe it!!! It is true that this company would not be making anything if it wasn't for one-time non-recurring gains. Sale of cath lab first quarter(3/31/97), right at the end to get a positive quarter. 2nd and 3rd cash legal settlement. I will tell you what I think they do. It is an accounting trick. They use the cash settlement to "check", offset, whatever, the expenses, so they can use what's left to be put against the revenues of the quarter. This quarter was about 1.1 million from FPII and cath labs. Expenses were over 900,000, so it is IMPOSSIBLE for MIOA to post 600,000+earnings. They'ss do it again 4th quaretr, too. They are using a ploy that I do not know if it is legal. They should be more honest and come out with exactly where everything comes from. Dangerous sign.
Here's why they are doing this. Next year when Joe Schmoe comes along(much like James, no offense James) and sees a full year of positive eps, he probably won't search the origin as well as we have since we have watched it unfold. This will look like an undervalued company in Joe's mind, and he might buy. At that time, the stock will probably be doing real earnings not from one-time gains. Unfortunately, it will be the first time for MIOA. This stuff they are posting is bogus, in my opinion. This year's situation is probably the best thing that could have happened to MIOA; it is buying time for the company to get going, while they post + eps. Next year this company may be worth 8, 10, but not now. It can do alot between now and then. That is how I see it. I would not touch this thing ever, though. Management has been dishonest. They could be much more clear on what they are doing and how they are getting their eps. Also, they could have been more open about where MIOA stance was on offshore investors. Obviously they have fought for the past 6 months, and that hurt. Now, with so many shares available to give out, and not adding substantial growth, they are moving too slow. Many better opportunities out there. Try ABTX!!!
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