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 : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: Ga Bard who wrote (5802)	7/31/1999 1:21:00 PM
From: mike mulhearn	Read Replies (1) \| Respond to of 150070

Not much talk about CJMT. From what I read, it appears to be potentially explosive. Can someone who has followed the company comment either way? I would appreciate your thoughts.

To: Ga Bard who wrote (5802)	7/31/1999 1:23:00 PM
From: Bob B.	Read Replies (1) \| Respond to of 150070

Do you honestly think that the Company is 100% fully responsible for the follow up press release??? Let me tell you from my past and current experience in the accounting profession: IMO DRGI was looking at not only SEC consequences for their original PR but also consequences from Jones, Jenson & Co.,The McGaldrey Network, and public shareholders. Auditing firms are very complex and are extremely detailed and precise in order to fulfill all State Auditing requirements as well as FASB rules and GAAP governing accounting. They would not want their name attached on any financial information without thoroughly reviewing it. I am sure that JJ did not want to be associated in any way with the original press release. Also, take this into consideration: (Fictional Example) Erma Auditors audits a public company. Erma Auditors are also a member of the US Association of Auditors. The company releases a PR stating that the US Association of Auditor who are the biggest firm in the US have auditing their financials. In the PR they mislead the public that they have EPS of 20 cents per shares without making much of an effort to disclose that Net Income from Continued Operations was a loss and that the positive earnings only reflect an extraordinary gain.. Possible Law Suites: 1. Public Shareholders 2. Erma Auditors 3. US Association of Auditors These are real consequences associated with the previous PR. Now, if you think that the only reason that the company released the follow up PR is based solely in the interest of shareholders, IMO you are very much mistaking. I would be willing to bet that they had tremendous pressure put on them to not only clarify but make their financials public. Trust me the PR on Wednesday did not go to the BW without first being examined thoroughly by Company Officials. IMO the company knew what they were putting out. You may also want to check out the 10 day chart to see what was taking place since Monday. I had heard no mention from anyone on the boards about rumored EPS to be announced this week. The company was pretty tight about that. But the charts show that something was up since Monday (and part of last Friday afternoon). 209.67.221.61