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Microcap & Penny Stocks : Leah Industries, Inc. (OTC-BB-LEAH)
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To: DISHRAIDER who wrote (1800)3/29/1999 10:05:00 PM
From: CYBERKEN   of 2153
 
You are, of course, totally hopeless. I guess I should say you don't know "beermeister" about anything. But because I have a spare moment, try to learn something:

I spoke of looking FORWARD to concerns about LEAH that might become important soon. Try this. It might give you a new start.

What if you bought 60% of Microsoft with 100% of your assets and even some leverage. Six months later, Bill Gates issues a press release saying the deal never happened. And you can't find a court with enough clout to enforce your contract. So now your money is gone, and your ownership in Microsoft is unrecognized. What does your CPA do to get a reasonable, conservative estimate of your net worth?

It can't happen here in America. But the big accounting firms must deal with valuing these contingencies in many places in the 3rd world.
D & T must assess value for LEAH's 60% interest in Sib Mach in a country where that ownership may be entirely dependent on Sib Mach and LEAH's mutual interests continuing to coincide. If they diverge significantly, what can Sib Mach do to LEAH, and vice versa?

Just as important, would D & T feel that this would require a qualifying comment in the auditor's statement at the end of the audit? Could it cause D & T to resign after the audit is finished? Would the delay in the release of earnings be because D & T wants to research the legal implications?

While we can speculate, we can't properly assess this (and many other things) without the audit. That is why I say we will be picking this document apart for a year after it's published. In the meantime we really should stop chasing our tails over whether or not they have retained D & T. There are important matters ahead of us.

MY OPINION PROBABLY DIFFERS FROM YOURS. I considered the above and many other negative possibilities before and while I was building a position in LEAH. I continued to buy anyway, because a big part of this play is that Russia will gradually build itself into a stable legal and very lucrative economic environment. I believe that concerns like the one above have allowed me to buy gobs of LEAH as low as 27 cents a share. I continue to hold that opinion, as well as LEAH.
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