They're even losing money on an EBITDA basis, though they've cut that to a loss of $440,276 for the 1st quarter 1999, down from an EBITDA loss in the 1st quarter of 1998 of $1,069,986. Their revenues for the 1st quarter 1999 was $11,367,000, up 134% from $4,847,916.
The danger for a potential shorter is that for the 2nd quarter they may get the EBITDA positive, and while EBITDA is BEFORE taxes, depreciation, and amortization, and thus hardly real earnings, it seems to excite some stupid people at brokerage houses. Combine the potential of positive EBITDA earnings with big percentage gains in sales, and the company might move up sharply on broker-hype. |
