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: TLWatson59 who wrote (626)	3/12/1998 1:38:00 PM
From: Matthew J. Landi	Read Replies (1) of 2595

TLWatson59, a) The "Land & Buildings" number- as are they all- are the accounting firm's opinion of the allowable figure (which is actually much higher), net of all intercompany and consolidating entries that they anticipate. b) I have no opinion from the accountants about the television time entry; if there is a NASDAQ (or GAAP) objection, it will be resolved at that time. The $5 million number shown is our cost. c) Our largest subsidiary ($6.5 million sales) carries only an average $55,000 inventory (because it deals with perishables- cheeses- and is emptied and restocked almost daily); that skews the total shown. The other subsidiary companies carry the industry normal amounts of inventory (i.e., $2million sales and $420,000 inventory). Thank you for you interest in the company.

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