AMEN just called its warrants yesterday. The stock dropped 20% on the
news and bounced back half of that.
The co. is runs a Christian internet web site.
The stock was IPO'd by the notorious Barron Chase Securities, which
has been fined by the NASD numerous times. They've done about 4 IPO's
in the last couple of years, and at least one of them (Compressent)
is now trading for pennies.
AMEN is trading for $9, though, with a market cap of $32 M. There is
almost zero institutional ownership.
They sure need the cash. Shareholders equity was down to $4 M, and
they were bleeding.
It looks like there is about a 1:1 ratio of warrants to shares
outstanding, at about 3.3 M each, so this is a bigger deal than BFLY.
Here's the prospectus that registered the shares 6 months ago:
edgar-online.com
I paste a MarketGuide report below:
QKFACT AMEN 253624100 DIDAX Inc.
Market Guide Quick Facts Report
DIDAX Inc. SYMBOL: AMEN EXCHANGE: NASD
PRICING DATA (AS OF) 12/31/98 RATIOS & STATISTICS
Price 9.88 Price/Revenue (TTM) 62.07*
52 Week High 40.00 P/E (TTM) NM*
52 Week Low 1.88 Price/Book (MRQ) 9.10
Beta NA Price/Cash Flow (TTM) -7.13
Avg Daily Vol (10 Day) 0.36 Mil ROA (TTM) -109.81%*
Avg Daily Vol (3 Month) 0.31 Mil ROE (TTM) -152.49%*
Current Ratio (MRQ) 12.80
DIVIDEND INFORMATION Total Debt/Equity (MRQ) 0.00
Indicated Annual ($) 0.00
Yield 0.00% NOTE: TTM = trailing twelve months
MRQ = most recent quarter
SHARE RELATED INFORMATION SHORT INTEREST INFORMATION
Market Cap. ($) 36.064 Mil Current Month 0.867 Mil
Shares Out. 3.652 Mil Previous Month 0.022 Mil
Float 2.600 Mil Short Interest Ratio 1.1 Day
INSTITUTIONAL & INSIDER OWNERSHIP
PURCHASES SALES NET PURCH %OWNED
Institutions (3 Months) 0.000 Mil 0.041 Mil -0.041 Mil 0.0%
Insiders (6 Months) 0.000 Mil 0.017 Mil -0.017 Mil 28.8%
BUSINESS SUMMARY
DIDAX Inc. is the creator and builder of CCN: The
Christian Community Network, an interactive Website that
provides information, interaction and opportunities for
involvement to the Christian and family-friendly community.
For the 6 months ended 6/30/98, revenues rose 29% to $256K.
Net loss rose 8% to $1.5M. Revenues reflect increases in
advertising/sponsorship sales and retail sales. Higher loss
reflects increased staff in CCN operations & salary costs.
*PRELIMINARY: For the 3 months ended 09/30/98, revenues
were 246; after tax earnings were -691. (expressed in Thousands)
REVENUES (Thousands of U.S. Dollars)
QUARTERS 1996 1997 1998
MAR 0 95 90
JUN 42 105 166
SEP 71 107 246*
DEC 68 82
TOTAL 181 389
EARNINGS PER SHARE
MAR 0.000 -0.730 -0.240
JUN -2.560 -1.270 -0.200
SEP -0.970 -0.800 -0.190*
DEC -0.840 -0.530
TOTAL -4.370 -3.330
2/98, Company purchased all of the outstanding shares of
gofishnet.com, inc. (Internet retailer of Christian music &
videos) for 130,292 Common shs.; FY'97 Q's being restated.
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