To: Francois Goelo who wrote (6176 ) 12/22/1999 2:13:00 PM From: StockDung Respond to of 10354
Here is a interesting post from a person that said financials would be restated and they were!! By: frisky Reply To: None Wednesday, 22 Dec 1999 at 1:16 PM EST Post # of 15070 When Tyco International, Cendant, Sunbeam revised their financial figures, the companies were very humble and released the negative news to the public. When ZSUN revised its 10sb and 10qsb, the management was very quiet. A prudent investor has to dig the truth out. ZSUN's press releases have very few substances. IMO, they are designed for the gullible investors and silly touts. Just read the press release made in the last two months: (1)12/22/99, ZSUN to strengthen the leading position in Asian Internet industry... To strengthen means not yet. So far, ZSUN is incapable of designing a Chinese language web site, while all the major players and the local operators are all in their native languages. ZSUN is simply striking out. (2)12/10/99, Access 1 financial issues a buy recommendation. A company is not in the phone directory or registered to do business in California. It could be in Cayman Islands and routes the calls from Santa Monica. The recommendation is nothing but garbage. (3)12/3/99, ZSUN announces seven-fold increases from in-house telemarketing team at OIA... Sounds a whole lot, right? It was from $50,000 to $362,000, barely enough to pay salaries to Scott Elder and his telemarketers. I doubt seriously they can jump from $362,000 to $2.6 million next nine months. Most of us would hang up the phones when telemarketers us. (4)11/9/99, Strong buy issued on ZSUN by SCT. A wise person will not care about a buy recommendation from a notorious paid promoter, Ray Dirk. (5)11/9/99, ZSUN reports a record sales and net profits for 9-months. The EPS figure was a silly basic EBIT. It has been revised on 12/20/99. (6)11/1/99, ZSUN launches SwifttradeUK.com. I have no idea how much ZSUN can make money from the web site. The Swiftrade USA site has not produce meaningful revenue stream yet. (7)10/20/99, ZSUN subsidiary wins "Small Business of the Year" Award for OIE workshops. It is from a town with a few thousands residents in Utah. Big Deal!