After looking over the 10K, most recent 10Q, 8K's, Def14A, as well as AOL posts on QLSI and RICA, I'm left with a number of questions and thoughts which I'll list below. Anyone can respond.
1)The first one is actually for Charles: It seems like you've done an admirable job disseminating info on QLSI/RICA to people on your SAC list, but I've read a number of posts that seem to refer to info (presumably from SAC letters) not brought up previously in posts. I wonder why you don't just post all new info to AOL or SI so that people who are considering the stock but who are not shareholders can benefit.
2)The Def14A (proxy statement) lists Oscar Arias Sanches, former president of Costa Rica, as a nominee for director, but the 8K of Aug. 6 lists an Oscar Barahona Streber as one of the people elected. What happened to Sanches, and where did Streber come from? (Every other nominee was on the list of people elected)
3)Why would the Pipasa people want to keep on James Isenhour and Alfred Smith IV as directors when neither has any apparent international business experience, nor any poulty business experience?
4)Why are they still filing documents under the QLSI name when the name was changed in August to Costa Rica International?
5)What exactly is the connection between RICA and Aero Costa Rica? One of the filings said it was Calixo Chaves Zamora's company. Charles' AOL post of 11/13 says Kirk (Isenhour) is the CEO of ACR. RICA's 10K mentions $324K given to ACR, apparently as a debenture convertible when, or if, ACR becomes a public company.
6)Is (director) Jorge M. Quesada Chaves related to (director, chairman, ceo) Calixto Chaves Zamora? His son perhaps? Not that this is necessarily a bad thing. I'm just curious.
7)Looking at Pipasa's 94 and 95 earnings ($3.1MM, $3.5MM), and this past quarter's earnings of $734K, I think it's fair to expect this year's earnings (given 26MM shares) to be about .10/share. Although I have no idea what a reasonable PE for a central american poultry company would be (does anybody?), I see no reason for the stock to rise to levels people have predicted. If anything, I might expect to see the price go lower, unless the company can demonstrate that they are going to grow rapidly. (which they don't seem to have done over the last few years)
Anybody have answers or reasoned opinions on these (or other) items?
Regards,
Mike |
