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Strategies & Market Trends : Joe Copia's daytrades/investments and thoughts
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To: LANCE B who wrote (12999)3/5/1999 10:25:00 PM
From: The Osprey  Read Replies (1) of 25711
 
lance,
There is a company.There is no business is correct.The money is invested and Roger takes a salary as a part time manager for overseeing the affairs of the shell and filing of reports.I do not know why Wayne is being so down on this.I presume that if he asked for it I could try and find a balance sheet but what is cash on one side and no assets and no liabilities and shareholders equity going to tell him.Yes it is a shell.Yes the preferreds could wind it up at their whim and the common shareholders could be hung out to dry.Yes they could choose to pursue another deal and use the cash and carry forwards to enhance value or will the preferreds take their .70/share on breakup and take their losses and run? These are questions one has to ask.

Let's have all recommendations come under this type of scrutiny and no one would bother to buy a Wayne Rumball,Joe Copia,Mr.Netals,Money Made pick again.No offense intended but let's be reasonable and look at the info we have and make our decisions ourselves.This is risky stuff but no one ever said pennies wasn't.Use extreme caution and only invest what you can afford to lose.I am sticking around on this if anything to see where it goes on monday.

Joe.....sorry to take so much space on your thread but these have to be addressed.My apologies to you and the rest of the posters here.

Osprey
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