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To: stockman_scott who wrote (26938)	1/16/2006 2:46:29 AM
From: Elroy	Respond to of 57684

Any thoughts on PGWC...? Yeah, it looks AWFUL!!!! PGWC.OB > SEC Filings for PGWC.OB > Form 10QSB/A on 16-Nov-2005 yahoo.brand.edgar-online.com Hmmm, $750m cash and $803m in AR versus $293 AP. Sounds like they got a ton of cash and incoming cash. No meaningful debt. For 2005 they had $1.1B sales, $626 gross margin, $483 operating expenses, and then they say they had an operating loss of $143m (math says it should be a profit). Not bad. Hmmm. Never mind. The numbers are actual, not in 1,000s, so they had $1.1 MILLION In sales, and a small profit ($143k). And the cash numbers are also actual, not in 1,000s, so they have $750k cash, $803k AR and $293k AP. The Company has approximately $1,280,000 in working capital at September 30, 2005. There were 65,770,596 and 32,766,590 shares of common stock outstanding at September 30, 2005 and June 30, 2005, respectively. This is barely a company! So they have 67 million shares outstanding, at $12 per share, implying a market cap around $800 million, with sales of just over a million bucks in 2005. Either I am misreading, or this is the short of the century! Yahoo appears to show some split activity in October 2005, so the 67 million share count must be wrong. Perhaps they did a 1 for 1,000 split??? OTC Wireless, Inc., (the operating company) was incorporated under the laws of the State of California on September 21, 1993. The Company is engaged in the business of designing, manufacturing and marketing wireless hardware and software solutions for broadband fixed, portable networking and Internet access. Fixed broadband is a crap industry with zero decent quality companies. The financials don't make sense, and the industry sucks. I wouldn't touch this sucker with a ten foot pole. ----------------------------------- Perhaps you can explain how revenues of a little over $1 million, net assets of a little over $1 million, diluted shares outstanding of 67 million and a stock price of ~$12 makes sense?????