AWLT wines and gourmet food - Italy Direct Message Board

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Microcap & Penny Stocks : AWLT wines and gourmet food - Italy Direct

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To: Matthew J. Landi who wrote (623)	3/12/1998 10:30:00 AM
From: TLWatson59	Read Replies (2) of 2595

Mr. Landi: A question or two concerning the "unaudited" financial release. The figure for Land & buildings of 2,745,000. Is that based on your actual cost or a valuation given to the auditors by AWLT? What was the depreciation $ amount taken to arrive at the "(net)" in the fixed asset value? In other assets you carry an asset valued at $5 million for "prepaid television time." I have seen a number of claims by other companies for this type of asset valuation rejected by the NASDAQ as not qualifying under their acceptable accounting principles. Do you have or have your accountants a verified acceptance from the NASDAQ that this asset claim is valid? Inventories of $477,000 - sales of $8.4 million a turnover of 17.5X - most extraordinary performance for your industry. I look forward to the "audited" report and the accountant's qualifications if any.

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