Shorting stocks: High fliers Message Board

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Strategies & Market Trends : Shorting stocks: High fliers

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To: Dante Sinferno who wrote (480)	4/23/1998 5:36:00 AM
From: Q.	Read Replies (1) of 709

all: SEVL is the highflier with the ugliest fundamentals I can find. They used to sell computer games, at a big loss, and exited that business in 1997 to try to license their technology instead. They are now down to 30 employees. The stock went up 4X in 2 days, is now at 7 5/8, on news that they would license their animation to WAVO. The 10k filed April 15 (late, BTW) has a going concern qualification by the auditor, indicates they are just about out of cash and must raise $15 M to stay in business. Market cap is now $100 M, which puts it at a PSR of 10 on TTM, and this PSR would be higher if you adjust it for business lines discontinued in 1997. Other fun stuff in the 10k: shareholders equity is just north of zero now. The CFO quit Feb. 28, presumably during the 10k preparation.

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