Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (25883)	2/9/1998 9:37:00 PM
From: Mike M2	Read Replies (1) \| Respond to of 132070

Mike, I read that one -excellent piece. A company in Greenwich, CT called FINE (nasdaq) has not traded since 12/12 due to accounting irregularities among other things-g-. They raised some additional money in Oct now they have to restate earnings for the past four years so much for due diligence and a clean audit-g- There is a story in todays WSJ Did you read my link to an old but interesting interview with K. Richebacher,M Belkin and S Puetz? Mike

To: Knighty Tin who wrote (25883)	2/11/1998 4:51:00 PM
From: Gerald M. Gualano	Respond to of 132070

MIKE--I subscribe to Hickey's newsletter and as a result of his recommendation I bought some ISLI last year. As a result of the new contracts recently signed I purchased a trading position in January which I sold yesterday. I'd like to continue holding my initial position but am disturbed by some info which I read in the last 10Q, and I'd appreciate your thoughts on the following items contained in the 10Q: --ISLI wrote off a substantial amount of inventory in 1996 which appears to have substantially increased their gross profits in 1997 by reducing cost of goods sold. I'm concerned that had they not reflected the write off, then earnings might be substantially reduced. --ISLI balance sheet shows approx.$4,000,000 as currency translation losses which I would guess did not flow through the P & L. Is this something that is normally done to reduce the value of foreign assets? --Cash flow analysis shows $16,000,000 use of cash as a reduction of receivables over the prior period, and yet the balance sheet seems to show the same amount of receivables. If I read this correctly can you indicate from your experience the logical circumstances why this would occur. It's very possible that I completely misunderstood these items and therefore they should be of no concern (how's that for covering my butt if these questions are questionable (g) ). However I'd appreciate your observations and response. Thanks Gerald