Roger's 1997 Short Picks Message Board

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Strategies & Market Trends : Roger's 1997 Short Picks

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To: ted free who wrote (7415)	11/21/1997 10:07:00 PM
From: Pancho Villa	Read Replies (2) of 9285

TO ALL: RE: BFIT. Just when you think you have seen all the deceiving tricks CFO's and CEO's try to pull on the little guys you see this one from todays news on BFIT: biz.yahoo.com 'The company in August raised about $90 million in an eight million share common stock offering, which helped to reduce its total debt-to-market equity ratio to about one-to-one, Hillman said.' You read this and then you think Pancho was lying to you when he told you that the debt equity ratio was almost 10X. Well, They just invented a a new ratio! debt to Market capitalization! a rare mix of accounting standards based on historical values with the current market value of the equity (also, I believe they used long term debt only and not total debt as they say in the release). I wonder if they will still use this version of the ratio once the stock price falls to under 5 bucks. This is the type of deceiving tactics companies have to use when they have nothing of value to promise stockholders! Pancho

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