Little Engine, You claim "The company is bleeding cash... they are losing cash at a scary rate."
I guess you and I have different views of what words like "bleeding" and "scary" mean.
The 10Q filing of 5-17-99 shows this...
Page 9, "The Company believes that its existing cash and anticipated cash generated from operations will be sufficient to satisfy its currently anticipated cash requirements for fiscal year 1999."
For this quarter they reported...
Net Sales..... $396,170
Cost of Sales..... $137,286
Gross Profit..... $258,885
G,S&A Expenses..... $254,945
Operating Income..... $ 3,940
The payments from Tru-Tel should go a long way toward taking care of the Accurate obligation... $100,000 plus $7,900 per month. Looks like that $145,000 could be taken care in about 6 easy payments.
Sure, they had expenses from Discontinued Operations and Investment
Expenses that created an overall loss of (.00) per share which is actually (.0044898) per share.
But I fail to see the "scary rate" to which you allude.
Furthermore, the plastics division (the main revenue source reflected in this 10Q report) is not the excitement of this stock.
The excitement revolves around GoProfit.com. |
