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.

Microcap & Penny Stocks : Microphonics Inc. (mrps) -- Ignore unavailable to you. Want to Upgrade?

To: InOverMyHead who wrote (7268)	6/25/1999 9:58:00 AM
From: Basildon Bond	Read Replies (1) \| Respond to of 8189

IOMH: So, after all this time, it's MRPS's work, not that of a firm of accountants. "inclusion of late reported distributor sales" tells me that MRPS sells on a sale or return basis. Otherwise, there can be no late sales, sales are made when product is delivered. If the Rev/COS ratio is actually true, then watch out for major reductions in margins as distributors take notice. Finally, I don't think Richard Polka is V.P. of NationsBank, more likely V.P of a local branch of NationsBank. I've had enough of this company. This is my last post to this thread. Do I hear shouts of hurrah? Basildon Bond

To: InOverMyHead who wrote (7268)	6/25/1999 10:01:00 AM
From: Tiger Lily	Read Replies (2) \| Respond to of 8189

IOMH, I believe that MRPS has been working on the filings since early spring; however, I also believe that the local accounting firm they were using was way over its head in regards to SEC paperwork -- hence the errors resulting in the returned filings. I am pleased to see that MRPS is taking action to hire a major accounting firm that is FAMILIAR with SEC paperwork. Hopefully, the filings will be done correctly the "first" time this firm sends them in. As to the financial statement just released, not only am I pleased that expenses are decreasing, I am impressed that cost of goods sold is decreasing. The improvement in the numbers is quite encouraging. I just hope this new accounting firm can get us on our way to the "Big Board" soon. Lily