*****BIGE MUST SELL STOCK TO STAY ALIVE - COMPANY BROKE*****
From the 10k... Notice that BIGE sold about 6.1 Million in stock to finance their losses in '98 and as of Dec 31 they were still about out of cash... Gee wonder how bad it is now - 3 months later?
<<<At December 31, 1998, the Company had cash and cash equivalents of
$729,334 compared to cash and cash equivalents of $887,153 at December 31, 1997. The working capital deficit at December 31, 1998 was $1,327,453, as compared to a deficit of $175,730 at December 31, 1997. Net cash used in operating activities during fiscal 1998 was $5,605,491....
... Net cash provided by financing activities amounted to $6,096,109 during 1998, primarily representing proceeds from issuance of common
stock and preferred stock.>>>
BIGE looks like the classic HYPE BS pump n dump by the company to allow them to sell stock to investors to finance their losses.
Sell this stock or regret it later, as I feel confident this company will go to zero...
All comments IMO
Cheers Steve |
