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Microcap & Penny Stocks : Syncronys Softcorp (SYCR)
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To: parrotone who wrote (27056)2/20/1998 2:02:00 AM
From: Jimily  Read Replies (2) of 30240
 
Just read this transcript and it's stronger than I thought, if (BIG IF) they deliver on promises..It explains what happened to our income last Quarter..Reserves are established as a % of projected losses..The initial set reserves are later adjusted pursuant to actual results..The reserves were established with cash (like a savings account) from last years profit..I believe the amount set aside was 2.5mm...What they have done now is increase that reserve by 2.mm from last Q's income..It's the same scenario as last fiscal year end..I don't know what charges were made against the reserve but my best guess is we should have about 4mm in reserve..(CASH) Soooo if losses are less than projected, they have the ability to adjust the reserves downward and any taking of reserves falls to the bottom line..(pure profit) Threadsters if they have a decent 3rd Q and low losses to that point. They could adjust reserves to pull in profit..This Q is critical...RP stated that we need two solid Q's for Amex.. He has effectively positioned SYCR to achieve that goal..(So we have profit in the bank).. Last Q sales income was increased by 3.2mm that would annualize out to 12mm plus with only one strong retail product..I expect we will see two new products by Mid-March..If one of these products click we are home free..However, if both are duds than that will push us back another Q.. The key is they need two strong Q's..

I am not an accountant, so check the numbers and read the transcript to make your own evaluations..
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