I accept your challenge.
Message #72297 from Anthony@Pacific at Jul 2, 2001 12:13 AM
A statement from the desk of A@P
I will pay $ 10,000.00 to anyone who is able to find one untruthfull statement in the SLPH report, PART 1 ,.
In addition I will retract the statement and amend it with a correction . I will pay $ 10,000.00 per statement. Furtermore rule 10b states that I must have knowingly made a false statement. If anyone can find one statement that I knowingly presented knowing it to be false , I will pay that individual $ 100,000.00.
I offer this challenge to the officers ( LOL ) at SLPH first. You have 48 hours from Monday mkt close.
I suggest that SLPH dismiss their action before I get an oppurtunity to get my hands on their aluminum foil wrapped contraption and I decide to devote some real time to this endeavor.
I made truthfull statements , I made a great report available to a few folks on the internet, I did a good thing and I resent the hell out of anyone who tries to take away from it's beauty by coloring the truth.
It annoys me that they can take what occurred in 1993 and try to fool people into thinking it has some bearing on the quality of the reserach or the veracity of my findings.
The challenge is on.
insidetruth.com
June 26, 2001
Attention All Business Editors:
Pacific Equity Investigations Initiates SULPHCO,
Inc. (NASDAQ: SLPH ) with an Immediate Sell Long/ Sell Short Recommendation!
FINANCIAL DATA and STATS:
Shares Outstanding: 22,700,000
52-Week High/Low: 11.95 / 0.25
Closing price today: 3.15
Market Cap: 74 million
Gross Revenue Last FY: $ 0.00000000001 dollars
Total Net Income (Loss) Last QTR (460k)
Cash per share $0.04
Book Value $ 0.10
SLPH numbers from their last 10KSB/A of June 14,2001 : (link provided at bottom)
As of December 31, 2000, there were issued and outstanding 21,200,000
shares of the Company's authorized shares of common stock and as of March 6,
2001, there were 22,712,800 shares issued and outstanding.
The InsideTruth.com numbers are off by 12,800 shares. Furthermore, the closing price on the day the report was released (June 26,2001) was actually 2.69, not 3.15...
Granted, the closing price on June 25,2001 was 3.15, this is an understandable error which could be fixed by adding 'as of close, June 25,2001'; however, the report is specifically dated June 26.
However, there is no hairsplitting possible in the market cap calculations:
Here are the InsideTruth.com numbers:
Shares Outstanding: 22,700,000
Closing price today: 3.15
Market Cap: 74 million
22,700,000 x 3.15 = 71,505,000
22,712,800 x 3.15 = 71,545,320
To arrive at a market cap of 74 million, with the share count Insidetruth.com uses;
74,000,000/22,700,000 = 3.26
Alternatively, one could divide the stated market cap of 74,000,000 by the stated price of 3.15:
74,000,000/3.15 = 23,492,064 shares (rounded up to the nearest whole share)
The Insidetruth.com report has indisputably erroneous data in the share count, and market cap calculation.
I would also question the following figure, which was obviously posted tongue-in-cheek. However, in terms of pure truth...it also seems to be the most likely to have been posted with full knowledge of its inaccuracy:
Gross Revenue Last FY: $ 0.00000000001 dollars
So that is what, 3 factual errors? (market cap, share count, closing price) and 1 intentional mis-statement (Gross Revenue). I'll give you the Gross Revenue as part of the humorous slant to the report, which was excellent, and which I enjoyed greatly; likewise the closing price, which is obviously based on the close of June 25,2001 (still doesn't change the fact that it is a factual inaccuracy for a report dated June 26,2001). That still leaves 2 points in my favor.
Source:
realtimefilings.nasdaq.com |
