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Microcap & Penny Stocks : ACRT about to move to new highs
ACRT 0.110-7.6%Dec 30 4:00 PM EST
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To: MONDOMAN who wrote (1524)2/13/1998 6:10:00 PM
From: Jean-Philippe Chevalier  Read Replies (1) of 7054
 
Mondoman,

Some of us are not too sure of your "bottom line" statement. Mr. Pink has raised a legitimate issue regarding the accounting of the TADs. He suggests that Actrade is showing the whole value of the TAD vice the interest and related costs. He also says that Actrade uses a "bucket shop" auditing house to accept these figures. I am not a bean counter but in my mind, Mr. Pink raises a valid point that should be addressed. I have no knowledge as to the appropriate accounting systems or the capabilities of specific auditing firms. I would like to hear some thoughtful discussion either confirming or refuting Mr. Pink's allegations on this. If this cannot be done, I cannot accept your "sound fundamentals" statement.

For the record, I have no current position in Actrade. I did hold a small position back when it was in single digits, but took reasonable profits on them and closed the position. I came to this thread when II made it one of the Tragic 25. II has made some nice picks, but they seem to put the kiss of death on stocks at a rate of about 4 to 1 and so I came back to Actrade more as a point of interest. It was here that I discovered Mr. Pink and have enjoyed the lively discussion he has provided. You might find it interesting to check on his track record, as I did. He must be very successful.

I believe Mr. Pink has a substantial short position in ACRT and therefore a vested interest in the demise of the stock. I don't believe he will be able to put much influence on the stock price by posting on SI. If ACRT tanks, it will be on its own merit. You might want to read his press conference statements again and if you are long, get some answers from Mr. Aharoni, liquidate your position, or bite the bullet. Ain't investing fun!
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