Here's my two cents, but just to warn everyone I'm not a CPA and I'm not an accountant or lawyer or expert of any kind, but I do have about 16 years of practical investment experience in these otc stocks.
It seems strange to me that the US accounting firm did not have a sign off page, but there could be a very good explanation, like they were not the auditing firm but a reviewing firm.
Also, I did see a typo, nothing major, and the balance sheets and financials partly spanish, they did say they used GAAP, so seems to me they're acceptable to the SEC.
Now, I did see that '98 revenues and earnings were a little shy of the unaudited numbers, but this happens all the time to companies and IMO tends to give greater credibility to the audited numbers.
And, did I read it right, Management is predicting approximately $9 Mil. in earnings for '99, that's $0.50 per share, it seems that analyst, forgot his name, predicted something like that.
Anyway, I'm no expert or a very big investor, but I did buy at $1.70, so I'm hanging in and will order my certs.
Good Luck to us all next week. |
