Israel,
They actually chose it sometime ago...but they have continued to send out new announcements, probably because of their failure so far to move the stock upwards.
But they are really trying... On May 22nd something calling itself Fleetwood Associates put out a "strong buy" recommendation on the stock. At the very end of the report it is noted that "Fleetwood has received a fee for the preparation and/or distribution of this report."
And then on Friday afternoon, the Company announced "Growing Demand for Its for Its Modular Walk-in Humidor Program...." but the only specific information was that they had placed 10 units in discount tobacco stores...
Although SJIG does not report its financial results to the SEC, a similar company, HAVR, does report them, and they are grim. one key fact from HVAR's latest 10-Q is that "Sales for the three months ended March 31, 1998 were $125,104, a decrease of 30.6% as compared to sales for the three months ended March 31, 1997 which were $180,139. This decrease is due to increased competition in the premium cigar market."
In this case, it appears that "increased competition" may be a euphemism for reduced demand for premium cigars...
Bob Davis
The Napeague Letter
napeague.com |
