ATTENTION MRVC FOLLOWERS!!!!
I was read a report by my broker, who received it from some BIG MRVC investors; I'll try to give an exact reference tomorrow....
The gist of it was not good.... It stated that the reason MRVC postponed its last earnings report, was to find a way to make the earnings meet estimates... It says that the books are COOKED something fierce (Sound familiar MU followers??). It goes on to say that MRVC has issued warrants, and other preferred shares, and or private placements which added to the bottom line, enough to give the company the .12 earnings it said it would.....
I don't know about any of you, but this was enough for me, that with the fact that even after releasing the Gigabit switch at COMDEX, the stock has still done nothing but go down, I have liquidated nearly all of my MRVC holdings.
This sucks, as I have held for a long time, and used to envision MRVC as a possible INTC or CSCO 20 years from now.....
The report seems to come from a reliable source, and tomorrow evening when I post a reference to it, you can all judge for yourselves.
I still have a little of the stock, and still have hope, that MRVC will do some PR to boost the price, but what I am told by my sources, Noam has said he doesn't trust the US media, and doesn't intend to make any statements that could be misinterpreted....
Once I see the market again take interest in this one, I will probably come back, however only if they get their bookkeeping together, I don't like dealing with Accounting practices like these.
Ernie |
