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Microcap & Penny Stocks : GGNC - GIC/Global Intertainment Corporation
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To: kmac who wrote (1968)2/2/1999 2:23:00 PM
From: C.Carlos  Read Replies (2) of 2585
 
Ispoke with a guy named Keith. He said he got in to help because there have been some changes in personnel and things need to be fixed. He did say that he is not sure if E & Y would end up being the auditors. I told him what I thought regarding the image problem of changing auditors at this point when the company's reputation has been questioned. I also mentioned the market's concern regarding hype. He said that he feels that there hasn't been much "hype" in the last month, which is somewhat true.

I agree with you in that changing auditors is not unusual. What is unusual is posting on your web page that XYZ firm will be your auditors and then saying that it will not be that way. However, I am willing to consider a reasonable explanation fot that. As it stands now, I think that changing auditors will be like trying to change a tire in the middle of a car race without stopping the car first.

To be honest, I must add that he was also very bullish about the company's future. It appears they are working on some deals with internet players at the level of Yahoo that are expected to bring in a lot of traffic. At this stage, however, that is pure speculation which is not healthy for the company's image. I am bullish, but I need to see some concrete steps taken by management in order to regain faith in this company.

I didn't sell today because I was in a meeting with a client all morning and I don't think I should sell at $2.50. I'll give this company another two weeks, which by the way is the period of time the company feels it will take for the stock to rebound (forward looking statements under the provisions of bla, bla, bla...).

C. Carlos
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