Well folks, I hate to be the one to break this news... but you all need it in order to know the facts and make wise investment decisions.
I bought some EVDS on Mr. Henken's outstanding product research.
The product sounds very interesting and necessary in the American market.
Unfortunately, Mr. Henken's knowledge of how many shares EVDS has issued and outstanding is way off.
I called EVDS's transfer agent today (American Securities Transfer) and EVDS has 19,855,058 shares issued/outstanding as of Oct 6, 1998.
For those unfamiliar what a transfer agent is... they are the folks that any public company (like EVDS) hires to keep track of all their shares.
They update their records daily... keep track of how many shares are on restriction, replace lost shares, etc...
And they are unbiased and accurate to the tee.
Roughly 20 million is way off from 13 million or even 16 million (in my eyes).
Unfortunately, since EVDS management doesn't even know how many shares it has printed and issued, I see that as a waving yellow flag and therefore, I sold my shares today.
Good Trading to you all..I think EVDS's products sound great, but I can not have faith in ANY management that is off 3-6 million shares in what they tell Mr. Henken.
Now, if EVDS is planning to add another 1.5 mil shares to this for promotional purposes... then we will have 21,355,058 shares outstanding...
You can see the EPS getting smaller and smaller and smaller as dilution becomes a factor.
Please, don't kill the messenger...speak to management as to why they are misleading you.
-DavidCG |
