Fred, you may be right, but I have seen financials delayed in other situations and for other penny stocks (which have a more credible management), and we have here (i) a previously non-reporting BB stock which (ii) is in the middle of a merger/combination or first effort at reporting.
Unquestionably, in my opinion, something delayed the anticipated release of financials in late April, and management has failed in letting us know why this has happened. I am also concerned about February 1998 press releases, which more probably than not DID exaggerate the revenue picture for Zulumedia. If revenues have fallen off, or flat, and management has failed to disclose that, it is guilty not only of the initial misleading press release, but also failing to correct the misimpression created. Mary Conway's comment to me that things looked "very, very positive" on the revenue side would also be seriously subject to question as well.
In short, one has to be super alert with this stock, and your analysis may prove correct. On the other hand, even a mediocre company could do very well if properly positioned in a rapidly growing market. |
