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Gold/Mining/Energy : Alternative Fuel Systems ATF:VSE -- Ignore unavailable to you. Want to Upgrade?

To: Jim Bishop who wrote (3368)	7/30/1999 2:31:00 PM
From: Stew	Read Replies (1) \| Respond to of 4605

Can't believe it! What the H***??!!!

To: Jim Bishop who wrote (3368)	7/30/1999 4:14:00 PM
From: Fun-da-Mental#1	Respond to of 4605

I don't like ATF's financial situation. Today I did what I should have done a long time ago and checked their financial statements at sedar.com Q3/98 Q4/98 Q1/99 Revenues 769905 472367 290297 Expenses 624925 748217 682464 Profit(Loss) 144980 (275850) (392167) THIS IS NOT GOOD! How much longer can they go on like this? As of March 30 they had about $100000 cash in the bank, just enough to keep going for two weeks. Since then they've obviously been surviving on those private placements. No wonder the price keeps going down. Probably the reason they have no debt is no bank will give them a loan! Sorry, I know they've got great products and they deserve to sell millions of Sparrows, Eagles, and Condors, but now that they've taken the plunge into manufacturing, it's do or die. Will Iran save them? They got a contract to sell 4000 units at $1300 each. Supposing their margin is 30% that's about 1.5 million, presumably spread out over at least a year. This might bring them to the breakeven point, if their expenses don't go up. They need another contract to make sure they survive, and to really support their current share price they'd have to make a million dollars profit a year! I sold 1/3 of my holdings today. Fun-da-Mental