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Microcap & Penny Stocks : CAGI--A Sleeper Waiting to Wake Up!!!!
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To: LarryS who wrote (933)4/20/1999 11:40:00 AM
From: HARRY BROWN  Read Replies (1) of 1020
 
Larry: I have been in this stock since it was $.65. No, I am not to this site.
Management is doing all it can to comply with the SEC. The SEC is merely commenting on the most appropriate way for CAGI to account for its goodwill, nothing more, nothing less. There is nothing sinister or underhanded here, just a clarification between the two parties regarding accounting principles. As a former Treasurer of a mutual, I know that these matters can get complicated. The company's management (as would I in this situation) is merely doing all it can to comply with the SEC so it can proceed with its business and the AMEX listing.
Secondly, when the stock was $.65, it had $.05 earnings then. That was before MAVIS was being marketed, that was before all the acquisitions (which are profitable by the way). So while there may be some uncertainty what the earnings might ultimately be, ie. $.12 versus the $.16 anticipated due to accounting, not revenues, there is no doubt this is a company with earnings (unlike many other BB stocks) and growing revenues.
It's a great stock with a great future. Obviously, it's your choice whether or not you want to be a shareholder, but there is no good reason for anyone to be overly concerned about the process they are going through at this time.
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