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Non-Tech : Versatech (VITC) -- Ignore unavailable to you. Want to Upgrade?

To: tony di fatta who wrote (239)	12/9/1997 9:04:00 PM
From: Sid Turtlman	Respond to of 435

Tony: You gather correctly. Your profile says you are a CPA. Please take a look at the company's 10-Q's this year, especially the cash flow statements, and tell me if they aren't the most bizarre, bogus financial statements you have ever seen. Numbers in the cash flow statement bear no relationship to the changes in the balance sheet. They don't even add correctly, at least in the March and June 10-Q's. The numbers in the Setember 10-Q cash flow statement do add correctly, but the numbers themselves are from outer space - they have inventories declining by something like $4,000,000 when they only started out the year at $400,000. The whole thing is outrageous, from start to finish. I would love to hear your comments.