Tonto:
I have to echo your sentiment.
AZNT actually released this?
Besides the points you raised,
...AZNT's public float is approximately 1.4 million shares with approximately 38 million shares outstanding.
howestreet.com
This was erroneous, if not a bald-faced lie. The 10Q filed less than three weeks prior reported 48 million shares outstanding.
COMMON STOCK
500,000,000 common shares authorized
at $0.001 par value 48,009,589 shares
issued and outstanding 48,010
sec.gov
Furthermore, they put this in as well.
AZNT Projected Revenue and Earnings (Millions of Dollars)
Year Revenue Earnings
1998 75 50
1999 125 75
2000 250 175
howestreet.com
Perhaps, one could get safe harbor on the revenue projections but no way on earnings. Possibly one could explain away the earnings projection claiming they meant gross margin, its more of stretch if they meant EBITDA, laughable if they meant operating profits, but pure misrepresentation by saying earnings. Assuming they procured raw materials for free, produced for free, had no other lease costs or operating expenses, no debt service, in fact no other costs at all, federal income taxes would still put them below their projection.
Why is it that the phrase, ...adequacy and accuracy of publicly disseminated information... comes to mind.
ww |
