Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : SABRATEK CORP (SBTK) -- Ignore unavailable to you. Want to Upgrade?

To: Pluvia who wrote (144)	6/16/1999 1:21:00 AM
From: Jay Fisk	Respond to of 487

Correctomundo Sven ! GAAP, not-to-be-confused-with the overwrought choreography of The GAP, is correctly "Generally Accepted Accounting Principles" featuring a limited amount of tolerance for creative accounting, trans-shipping and not-too-well-done deceptive practices. Remember the true tale of Ed Antar aka Crazy Eddie ? A flipside story, needed inventory to support the numbers, loaded up the first store with consignments, counted it, loaded up the trucks for another location, counted it again, etc etc. Took a 44 buck stock to zero in two months. Corporate complicity ? A not-so-happy-ending for the longs, bail early, avoid the rush. Wanna buy a couple 100 July 17's in a few weeks ? Nah, I'll hold.

To: Pluvia who wrote (144)	6/16/1999 2:13:00 AM
From: Swanny	Read Replies (2) \| Respond to of 487

Congratulations, Steve! It appears that you caused some of the weaker hands to release some of their shares today. Although, no one knows for sure what that amount is since you guys are good at manipulating the volume numbers. It is interesting to me that you received your revelations just as it appeared that SBTK was getting ready to move significantly higher. That would have caused a lot of problems for you and the other scavengers. 3.2 million shares is a lot to cover with the float that is out there. You probably were getting a little nervous when you saw that people in the know were starting to take very large positions in the company. It appears that you and your cohorts spent a lot of time to plan your concerted effort yesterday and today. Good job waiting until this week to move so the additional shares shorted are not reported until July. I would hate to see you guys caught with your pants down. I know you and your friends are used to roaming the alleys at night but I need my sleep. Good night. P.S. Of course, if all your predictions come true, I will humbly apologize for my disrespect.

To: Pluvia who wrote (144)	6/16/1999 9:00:00 AM
From: mod	Respond to of 487

<<Obviously KPMG knew nothing of this fraud or they would be liable also.>> I'll believe this when I see KPMG resign. If they do, I'll concede you are right. If they don't, you will be exposed as a front-running lackey of the Milberg Weiss ("We just paid $50 million because we were bad") lawyers. I ask again, are you being paid by them? Why not answer the question? I will state that I am not being paid by SBTK, are you being paid by the class-action lawyers in any way? Did you have a copy of the amended suit before it was filed, so you could front-run the news? Based on your posts here, you apparently did. If this "fraud" is as clearcut as you claim, I figure that the auditors will resign by the end of the week. If they don't, you lose. As to GAAP, do you have a mind of your own or can all you do is cut and paste from your lawyer buddies filings? Look at your own posting: "Concept Statements", "Opinions", etc. GAAP is a matter of interpretation, depending on the facts and circumstances, as to revenue recognition. You are assuming that your MW lawyer buddies ("did you say $50 million? we must have been REALLY bad.") are accurate in their filings, while I assume they are biased in favor of the biggest possible legal fee for themselves.