You are absolutely correct Lance. I dislike the way that they squish their numbers together and mislead shareholders. This is the second time in the last couple months that they put a spin on the numbers. Their news release on the annual report said they made 1.7 cents when in reality they only made 1.3 diluted. They also told you, I believe Lance, that the report was positive. It certainly WASN'T.
I expected the second quarter, which was big last year to be bigger this year. I did not expect a loss. After an improved 1st quarter, this was a disappointment to me. I was disappointed that it took so long to report this. Remembering back, wasn't there something about the old man being sick at this time? They have changed their management around. Why?
They expect to make this up in the 3rd and 4th quarters. Their expectations haven't panned out in a timely manner too well so far. We excuse them for always being late. There has been a lot of spin on the last two reports that turned out not to be true.
They HAVE printed more shares.
The family has sold off some of there position in the last annual report. Do we know what they are doing now?
There is economic disorder in Brazil, the government can do many things that we wouldn't like.
I think today is going to be a down day for this stock and the downward trend will continue, until we see improvement in the 3rd and 4th quarter. I am not going to trust what they say, until I see it in black and white.
Today I am going to sell half my holdings and lock in profits. I will keep the other half because I think there is possibilities here, and I will buy back if the Quarterly reports warrant it. But I'm not going to keep my neck extended out on the chopping block. Hopefully, if the market doesn't drop too much today, I will be sitting with free shares.
Good luck everyone,
Dave
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