ACRT going to Zero Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : ACRT going to Zero

ACRT 0.110

-7.6%

Dec 30 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Dante Sinferno who wrote (42)	2/13/1998 10:52:00 AM
From: Mr. Pink	Read Replies (1) of 320

PRESS CONFERENCE PART I: MR. PINK REVEALS ALL! Welcome to Mr. Pink's Actrade Press Conference. It is good to be back on the Silicon Investor and Mr. Pink is please to see such an immense turn-out. SI has been working all night adding capacity to its servers to accommodate all of you today. Mr. Pink is holding this conference to address many of the falsehood perpetuated by last night's Actrade conference call. Mr. Pink listened to the call, through an affiliate and was unable to ask many questions that He had. He is therefore taking this opportunity to bring His questions and findings to the public so that the company will answer the questions hopefully in this forum. So without further adieu, Mr. Pink shall begin. Please wait until after the conference to ask your questions. Topic One: CHARACTER and the SMELL TEST "I am not a crook" Remember Nixon's Checker's speech? Mr. Pink wet his hankie on that one. Amos Aharoni admitted that he had claimed bankruptcy in Israel some 13 years ago. If he had handled his insolvency in an honorable and ethical way, why is there still a judgment against him? Even Amos' lawyer who was on the call admitted that there are still proceedings against him in Israel. Don't take Mr. Pink's word for it: call the attorney representing creditors. Her name is Michal Arlozorov. She can be reached in Israel at 0119723-5755580. Evidently there will be a court hearing in Tel Aviv on February 19th. Questions: Mr. Aharoni what business did you drive into the ground? Mr. Pink had heard it was "grey market financing" Was this the same as the TAD business? Why did you flee without settling your debts. Why not pay them back so that you can return to your native Israel? Mr. Pink heard that the judgment was only $2 million. Why not expunge your debts and restore your honor. If you have to sell a little ACRT stock your holders will understand and you will remove a vast cloud over the company. The gospel of the company is being handled by the IR clerk, Mitch Melnik. According to on report, Mr. Melnik ran CashTek, a company that filed for bankruptcy a year ago and also operated a gambling school. Former director Baruch Ivcher had his Peruvian citizenship revoked. New Castle securities the original underwriter of ACRT? Shut down by the Feds. Mr. Pink is holding his nose. Topic Two: ACCOUNTING Revenues are overstated and the only accounting firm ACRT could get to do their "Chef Boyardee" routine is a little bucket shop in New Jersey. Zeller, Weiss & Kahn are the company's auditors. Should make you wonder. Who are they and why doesn't Amos get a Big Six firm to do his audit? The company still has over $100 million market capitalization. Even if getting a Big Six might cost a bit more it would probably add $1-2 per share in market value to the stock worth around $10 million bucks. Mr. Pink doubts a major firm would abide by the accounting methodology. Myth: TADs are a product. This is utter crap and anyone who has an IQ north of Par could figure that one out. TADs are not refrigerators or computers. They are financing instruments. Even the company describes itself as being in the business of "financing transactions between domestic buyers and sellers using Trade Acceptance Drafts." Therefore Revenues should be booked on interest income and fees not on the gross TAD amount. Mr. Pink has researched this matter with a Partner at a major accounting firm who concurred that revenues were overstated. An interesting point was raised by Karl Reeves the analyst/broker following the company at Taglich Brothers: Will the company have to restate results to more accurately reflect true revenues? Mr. Pink will return after a brief recess.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next