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Microcap & Penny Stocks : ACCY - Accsys Global Network, Inc (NASDAQ OTCBB)
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To: flightlessbird who wrote (884)2/5/1998 10:25:00 PM
From: Larry Brubaker  Read Replies (1) of 1574
 
flightless bird:

I disagree with your point over whether the debate over the number of shares outstanding is pertinent or not. There have been several statements on this thread that there are 6 million shares outstanding, and 2 million in the float. In all fairness, I believe I recall the 16.7 million being mentioned in the past as well. ACCY's website says nothing about the number of shares outstanding, it isn't found on Yahoo (or anywhere else on the net that I know of), and my e-mail to the company asking about the float has gone unanswered.

In the midst of all the hype about this being a $2 stock, lets look at the difference between 6 million shares out and 16.7 million shares out. The newsletter article cited on this thread last night (which quoted a 6 million share float) estimated a profit of 8 cents per share from the first tournament alone. With a 6 million share float, 8 cents per share would imply a profit of $480,000 from the first tournament. Sounds like a lot, but not beyond the realm of possibility. With 16.7 million shares out, an 8 cent per share profit equals a profit of $1,336,000 from the first tournament alone. That sounds a little optimistic to me.

After all the hype settles down, the company will be valued on the amount of money it makes. I question that they can earn $1.3 million profit per tournament. But I guess we'll find out.
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