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Microcap & Penny Stocks : SEVU: New Invention of Great Potential... -- Ignore unavailable to you. Want to Upgrade?

To: Don Pueblo who wrote (1909)	8/18/2001 12:17:02 AM
From: Q.	Respond to of 1992

Earnings. Sure they've got em ;-) Positive net earnings ;-) And they're way up ;-) It must be true because the PR headline says so: "SeaView Reports Sales +52%, Net Income +88.4% in Q2 " Must be a terrific company, right? But wait .... Funny thing is that no financial statements are given in the PR. You have to look for them in the 10Q. And what you will find there is that NET INCOME was NEGATIVE. As it always is. The headline of that PR implied that net income was positive, that it was positive a year ago as well, and that it was more positive this time than a year ago. And all of that is contradicted by the filings. What's more, while the PR reports that revenues are up, and gross profit is up, it fails to mention that in the latest SIX month period, REVENUES DECLINED, and GROSS PROFIT DECLINED. So what they did is selectively report results only for a quarter, which was compared to a bad quarter a year ago, while faiing to also announce results for the six month period as is customary, in order to avoid revealing that things are getting worse over that period. Overall, a hugely misleading "earnings release."