Partytime, as per your request I perused the proxy statement, I looked the balance sheet over, and it gave me a very upset stomach, then trying to find the capitalization, I found that there will be 28 MM shares (ouch). This outfit is like a "woman with history". Why do you want to take the risk that they will succeed? They have no history of success, and the finances are just "smoke and mirrors".
Why don't you look at some good companies selling at under half next year sales, they make a good profit, they have low capitalization, and may become recognized as Internut stocks because they are already involved with the internet and actually derive revenues from the web?
Take as an example PROG, yes it blew its top today, but even after blowing its top its trailing PSR is .38 and its forward PSR is .25, now that is value and an internet stock on top of it, and they even make money.
This outfit, here, ZULU is too busy trying to put something together from what appears to be thin air, IMHO.
Oh, they still do not say what are the conversion terms of the three preferred convertible, and when these terms are not upfront, I worry, but then, I am Jewish, so, I worry a lot.
Zeev |
