Walter,
Welcome to the thread. I am glad to see a potential investor who actually reads the SEC filings! I will try to address some of your specific questions in this post, but I also suggest you look at this link summarizing the DD done by some of the thread participants, and compiled by Steve Lin:
geocities.com
I think you will find the answers to most of your question under Section "E. Background and Overview."
<<< How many shares are authorized... 90 million? Is there a trend here? >>>
A trend? I don't think so. Shares were issued to finance to company's expenses, and for acquisitions and stock options. I think "the bleeding has stopped," so to speak. The company recently had a $10 million private placement to satisfy the funding needs of the company. Only $2.5 million of this has been used to date. Also, notice from the most recent 10Q that the company has significantly reduced expenses and has been successfully restructured. The management is completely new since last year. This is a turn around stock that is going to make it, IMO.
<<< How long did it take to accumulate $26 million dollars in losses? Was it all
accumulated in consecutive years? Have they gotten any better? >>>
See above. New management, and losses are narrowing significantly. Revenue is now starting to flow with the CCI website. Losses for the three months ended September 30, 1998 and September 30, 1997 are (809,327), and ( 2,795,289), respectively. Read the 10Q for more details.
Good luck if you decide to invest!
-Dave |
