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Strategies & Market Trends : Bosco & Crossy's stock picks,talk area -- Ignore unavailable to you. Want to Upgrade?

To: Crossy who wrote (3314)	4/24/2003 7:31:34 PM
From: Crossy	Read Replies (1) \| Respond to of 37387

re: IMA change in auditors was hit with panic selling. Stock plunged from $20 to $15. If one cares to look at the SEC EDGAR 8k filings in detail, it can be easily observed that former auditor E&Y lamented on the "decentralized" structure of the firm when they acquired business after business last year. Well that's the way you buy assets and entire firms. Once you acquired them it's integration time. The company increased revenue many times (5-6 times) last year. That alone is incredible. The current reaction IMHO is largely a misperception. Actually current levels are a fine entry opportunity IMHO.. In Mid May the quarterly is about to be filed - in the case of IMA it will contain AUDITED filings, because a new auditor (BDO Seidman) got onboard... rgrds CROSSY