jhild...
Additional comments concerning the financials. I knew the auditor could not discuss any details of an audit, but I did want to confirm whether a 1st quarter audit was ever completed per Kevin's comments. As I stated, it was not. This in itself is not unusual, as it costs a considerable amount of money to have audits completed. Even large companies often qualify their quarterly statements as unaudited.
SO what does Kevin have? He may have unaudited financials, or pro-forma projections. Often projections or forecasts are not released by the company for fear of getting sued if they don't meet them (thats all the forward looking statements / safe harbor stuff at the bottom of most PR.)
Also for any projections to be valid, they must be grounded in fact or an extension of historical performance. With EDII, It may be someones goal, dream or wish list. In addition, it would probably be based upon revenue and earnings, with no relation to balance sheet items showing financial stability and total shares outstanding.
That being said, Kevin was misleading and immature in his posts, leading many IMO to question his intentions. My impression of Jim B is while his strenths are not in financial DD, he appears to have a interesting ability to dig up small pennystock companies near a turnaround, and right or wrong, his intentions are honest.
jmt |
