Pallet Pallet Inc. Message Board

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Gold/Mining/Energy : Pallet Pallet Inc.

PPAL 60.10

0.0%

Sep 23 11:27 AM EST

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To: Richard Nelson who wrote (24)	1/8/1997 11:04:00 AM
From: Birdman	of 451

I have been watching PLT for a bit and just received their 1996 Annual Report. (They sent it to me within 2 days of my request!) A few observations: Nice to see positive financials for the 1stQ of 1997. While acquisitions are their mainstay, they appear to have overextended themselves which is I think what got them into trouble in the first place. New mgmt seems to appreciate that growing too big too fast creates its own problems. Once source of concern might be their significant long term debt. Notes to the financials indicate some very high interest rate obligations, meaning they have expensive money. This could have a bit of a drag on the stock price as the street will likely be somewhat concerned over their ability to continue servicing such expensive long term debt. However, the company and mgmt appear to be focussing on reducing their long term obligations and analysts will often give positive reports on a company if they feel that, notwithstanding some negative financials, the company is actively directing its efforts at "cleaning up" shop. Long term prospects look good and I would say it's a buy at apx. $.39 provided one has a long term (6 - 10 month horizon) strategy.

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