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Non-Tech : RECY Looking Good... A -- Ignore unavailable to you. Want to Upgrade?

To: Kris Q. who wrote (3692)	1/5/1998 10:43:00 AM
From: James Strauss	Read Replies (1) \| Respond to of 7006

RECY... Snap To It... >>>Most likely, the Warrenton facility was more expensive to create than was expected. This would be a good question for Alex. Also, I would like to register a mild complaint. The past two quarters, RECY has been late in filing 10Q's. Simply put, 90 days (9-30 to 12-31) is ample time to file. Maybe they need a new CFO who can can ensure timely issuance of financial statements. Investors have a right to accurate and timely information, no excuses about being "too busy" with acquisitions.<<< ****************************** Good points Kris... We have yet to see the effects of the closing costs on the balance of the Acquisitions... Perhaps the Warrenton facility is the culprit here... Also, I agree with you that a greater effort should be made in getting out the Qtrly reports in a more timely manner... In defense of the CFO, a lot of his time, and his staff's time, is spent visiting potential Acquisition candidates and reviewing their numbers... In addition, even though some Acquisitions don't close during a Qtr, it doesn't mean that the CFO and his staff hasn't spent a lot of time preparing for the filings, and assisting in the Acquisition negotiations... As usual, you bring up excellent points worth pursuing... Please continue your probing analyses on this thread... Jim

To: Kris Q. who wrote (3692)	1/5/1998 11:18:00 AM
From: Zeus549	Respond to of 7006

Kris, I am in agreement with you. I see no real good excuse for RECY putting off their quarterly filing. My guess is that they have an inadquate accounting staff for their rate of growth. That may be an excuse and a cause, but it is not something that was unforseeable considering their busines plan. I do not believe the CFO and the top rung accounting people actually put together the quarterly report. That is nuts and bolts stuff that just requires a certain number of manhours to accomplish. If all the required information is not available then that is something else. But a press statement saying exactly that and giving the specifics is not a difficult thing either. If they really had their shareholders interest at heart, they would do whatever is necessary to keep them informed as best they could. Right now I don't see that happening. Current grade for PR is a C-. To the back of the class and put on the dunce cap too.