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Microcap & Penny Stocks : HITSGALORE.COM (HITT) -- Ignore unavailable to you. Want to Upgrade?

To: KLN who wrote (5957)	8/21/2000 7:00:23 PM
From: Q.	Respond to of 7056

HITT filed its 10Q. Cash is dwindling badly. Operations yielded a burn of $958 k in the last 6 mos. Comparing to the previous 10Q, I calculate that $522 k of that cash burn occured during the last 3 months. Current assets are down to a mere $72k, compared to current liabilities of $3.6 million, giving it a current ratio of 0.02. You don't see that very often. That was how things stood at the end of June. You can imagine what it's like now. Here's what the company says about this: As of June 30, 2000, the Company does not have the cash, working capital and commitments for additional equity or loan facilities to sustain its current level of operations and will need to raise additional funds in order to maintain operations at current levels and expand or enhance its products and services. edgar-online.com Shareholders equity is now a negative $3 million. Revenues are up sequentially from last semester, but still a mere $100k. No mention of how much of that is barter.