- example of possible fraud in IFLY's financials:
From Showpower's 10Q, you'll see very clearly a deduction from income entitled "Stock compensation."
- Why doesn't IFLY have a similar deduction?
- Is it possible the year-end audit, due out by 3/31/99, will catch this "oversight" and turn 1998's numbers in to a solid loss?
- Or is it possible that I'm wrong, and IFLY didn't rack up any "GAAP expense" when it issued warrants to all the vendors; including the website folks?
Thanks.
biz.yahoo.com
, 1998 1997 1998 1997
Revenue
Cost of Sales
Gross Profit
Operating Expenses: Selling, general
and administrative
Depreciation and
amortization 55,307 52,234 175,946 163,462
Stock compensation 35,579 35,579 106,737 71,158
Total operating expenses 1,784,396 1, |
