Brandon, I have been talking to Rich Kaiser, investor relations, and he is expecting a financial report soooooooon. I have numbers for Nine months 9/30/95. It gets worse..sales 299,800 vs 382,725 - Cost of sales 319,161 vs 544,548 and a loss of (829,972) vs (1,669,669). First number 1995. This is why the stock is $.50!!
The story I get is there was an earthquake 1st quarter, and the bags valves had some leakage problems 2nd quarter. Rest of the year was spent getting their reputation back in graces with their customers. The inventor has been the management at this company, he has been trying to do the selling and R&D which has been a mess.
The folks they brought in from DOW are going to try and fix the problem. One will attack the marketing and the other operations. Time will tell. I am betting this new management will make this company happen. I think they have a useful product.
Also it is clear to me Motorola needs this company to be profitable since they have committed to using their bags. So MOT will also do everyting in their power make them profitable.
I think they have a shot at being successful. Also an interesting note, the original insiders are in this stock at $2.50 so they are Moooootivated.
Joan |
