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Microcap & Penny Stocks : Arcon Energy .... Another Sleeper
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To: Ga Bard who wrote (200)2/1/1998 8:31:00 PM
From: Ga Bard  Read Replies (3) of 626
 
Andrew, I am going to have to apologize again because I just reran the math after thinking all afternoon on the math. I think the follwing is true because I ran the math based on the news release math instead of just taking the figures and starting from scratch.

If the reserves are 36 Billion then the balance sheet would show 36 Million. 36 M / 29,034,077 = $1.23 shareholder equity

If the reserves are 360 Billion then the balance sheet would show 360 Million. 360 M / 29,034,077 = $12.40 shareholder equity

SO you are right I cannot see the 3.6 Billion as an viable number. I hope you can allow me the human side of being wrong. This is why I like for everyone to do their own math and DD. I appreciate your skeptical nature. HECK for all I know the none of this is right either. I do not know if I have the math right. Could be a variable that I have a decimal off one position.

I guess when the correction comes out we will know for sure.

Thanks

GB
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