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

To: StocksDATsoar who wrote (85499)	5/31/2001 2:57:44 AM
From: CyberJas	Respond to of 150070

Ok, I'll tell you what looked not so good in my opinion in that filing: 1- Liabilities higher than assets, which gives a book value of $-0.07 based on the 11,492,978 at May 11, 2001. 2- No revenues in the last 6 months at least 3- They reverse split their common stock 1-to-5 on Jan 24. We all know what often happens when a BB reverse splits, the price slowly (or sometimes sharply) declines and then even re-reverse-split on some occasions: bigcharts.com 4- Cash position at end of period: $148. To make money you need money, so we see it a lot of filings for BB companies something that looks like this for LASV: "The continuation of the company as a going concern is dependent upon its ability to obtain additional financing to meet its obligations for future development and the attainment of successful operations. The company is currently seeking new investors to raise the needed working capital." 5- Some officers don't seem happy at LASV: "On January 29, 2001, the Company also announced in the same news release, the appointment of Mr. W. Brent Pennington to the Board of Directors of the Company. Shortly thereafter communication was received by Mr. Pennigton stating he did not wish to participate in the Company's ventures." and also: "On January 17, 2001, the Company announced the appointment of Tim Metz as President, Albert Landwehr as Secretary and Robert Abbott as Director....... On May 8, 2001, the Company received the resignation from Mr. Timothy Metz resigning as President, Director and an Officer of the Company." No reasons given for any of the two. Note: the above observations are taken from the last 10Q only and therefore more DD should be done about the company. The company's plans seem very big and they state in some of their press releases that they work "to further ensure the rapid growth of the company." They look determined in making that Russian lottery bring in a lot of $$. I considered buying today, but haven't done so yet. Good luck, -CyberJas