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 10:58:00 AM
From: Mr. Pink	Read Replies (1) of 320

PRESS CONFERENCE PART II Thank you all for waiting. Topic Three: What is the Commercial Finance Institution? This part is confusing. Supposedly the CFI is set up to finance offshore TADs. On the call Mr. Aharoni said they had already financed some $9 million in TADs. How is this possible considering that the company based in the BVI has only $50,000 in capital. Don't take Mr. Pink's word for it. You may contact Ms. Lisa Penn-Lettsome Registrar of Companies Government of the British Virgin Islands PO Box 418 Road Town Tortola, BVI Tel 284-494-5355 fax 284-494-6331 Furthermore you may call the "headquarters" of BVI and ask for Adell Klein or Don Silvester 284-494-2233. They told an affiliate of Mr. Pink that Commercial Finance Institution is based in Israel. What is the real source of CFI's funds? Topic Four: Deteriorating Profits at TAD division and miscellaneous Please address the drop in profits in the December quarter. Revenues were up but profits were down. If you read the Q they stopped breaking out sequential operating results. Why won't they discuss repeat business. Mr. Aharoni avoided several questions on the call. Why would healthy companies pay effectively 30% interest to finance receiveables? Who is on the compensation committee of the ACRT Board and how did they award options on nearly 15% of the company to Amos who already had a significant stake. Why are the TADs still receivable even after they have supposedly been sold to the bank? Doesn't this inflate margins? Even if you can answer all these questions, ACRT is still a finance company (and air conditioner rep company) selling at over 6X book value. For $120 million Mr. Pink would rather buy a sky scraper in Manhattan than a finance company with a shabby office across from the Garden (a seedy Manhattan neighborhood), 3 branch offices and a few guys making the real money selling air conditioners. ********************************************************************* Thank you all for coming to today's press conference. Mr. Pink will take your questions one at a time.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next