Westrend Natural Gas - I.D.E. Hot Stock Message Board

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Gold/Mining/Energy : Westrend Natural Gas - I.D.E. Hot Stock

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To: Wink who wrote (1664)	10/7/1998 8:23:00 PM
From: Wink	Read Replies (2) of 2011

As promised: Changes from 4/98 to 7/98 Schedule A Balance Sheet The dollars under "Current Portion of Notes Payable" seems to have changed from a current liability to a Long-term liability under "Notes Payable". May have been an accounting move as I believe the April financials had too much under "current". I base this on the notes supplied with the 1/98 year end financials which shows debt as being longer term than "current", which I believe should only include 12 months into the future. The "Minority Interest in Subsidiary" figure did not change from last quarter. This is still bugging me as I thought this was related to the Brett & Oscar's portion of Taylor's profitability, but shouldn't it change from quarter to quarter? It seems that they may carry the same number all year until year-end, when they recalculate it or until they land new contracts? Leigh wrote: >>I do not know for sure, however there is some speculation that the financials include 100% of Taylor's income and then have Oscar and Brett's interest backed out in the form of the "minority interest". I have not been able to confirm this as reality, but it does sound plausible to me.<< (Roger, some help here if you could?) Expenses seem to be under control. A bright spot for now? Maybe/maybe-not: It seems by having no cash it forced them to reduce expenses. Works for me when I'm broke! Statement of Operations Again the "Minority Interest" doesn't change for the period ended. Note that this is not a year-to-date income statement and should reflect only the past 3-months. Cash Flow Statement "Balance at end of period" shows negative ($26,021) but balance sheet says positive $35,304. This isn't right. They should agree! Schedule B Note that 716,667 shares are shown as "returned to treasury", but issued and outstanding only changed by the 150,000 issued under stock options. Also, 16,000 stock options outstanding at conversion of $0.15 by 5/17/00 have disappeared. That's it for now. Stock price is headed in the right direction but based on past TA it doesn't do well for long when it pierces the upper Bollinger Band. We'll see!

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