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Microcap & Penny Stocks : GIFS
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To: craig crawford who wrote (2166)2/12/1997 3:13:00 PM
From: Laertes Manuelidis   of 8012
 
Craig,
I tend to agree with your analysis at this point. In addition to your lists of concerns, I got really nervous when I saw the SEC doc. outlining $100 mil. of GIF's assets in Mexican CD's! (do they really have these assets in their possession?--looks very very unclear).
On the other hand, if a big 6 acct. firm goes in and confirms Gif's financial statements, I would be much less concerned and would probably buy. However, my gut feeling is that when this day comes, if ever, Gifs will be under a buck after the results of the audit are known.

One man's opinion.
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