From Wisam Raad on the Raging Bull Corel Thread:
ragingbull.com
MESSAGE READS:
I find the re-release of Corel's previous quarters to be unfair--or
borderline illegal. The reason is that many people that purchased Corel
shares after the 1st, 2nd, or 3rd quarter paid an inflated price for the
shares. Had the losses been greater in those quarters, the associated
share price on the market would have been less. Corel accountants spread
the loss for the 4th quarter to the previous 3 quarters. COREL
EFFECTIVELY CHANGED THE PAST. News releases have indicated that this is
acceptable accounting procedures, but what Corel did was effectively
make the 4th quarter appear better than it was on paper. I don't give a
crap what they report to the government or how they satisy their books
for themselves, but, what upsets me is that after the 3rd quarter
reports the share value would have been around $3 or less. Thus, I would
have paid less than the $5.35 that I ended up paying. People purchased
shares based on the information Corel released, which is as of
yesterday, entirely false. Before I proceed with either a complaint or
something else, I would appreciate some feedback on what others think. |
