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Microcap & Penny Stocks : ARET (Formerly KLHE) -- Ignore unavailable to you. Want to Upgrade?

To: Michael Harb who wrote (3494)	2/15/1998 3:43:00 PM
From: Novice Bob	Read Replies (2) \| Respond to of 4594

Mike: Thanks for your insight! I would like to get your thoughts and opinions on the following: Do you have knowledge of what some of the other requirements will be for ARET to remain a listed company. I would think there would be more requirements in addition to filing financials. There must also be criteria regarding the worth of the company, accounting methods, time frames for reporting, etc. Given the attitude this company seems to have and their inability their accounting done in a reasonable time frame, I wonder if they can or will meet requirements of a reporting company if they have to do more than just report. I do the rough book keeping for a real estate company, a 35,000 sq.ft. shopping center, an 85 unit apartment building, a freestanding Goodyear store, plus I perform detailed financial analysis on at least 6 commercial properties a week. All for the same group of investors. The financial reports I prepare typically have deadlines, the professional thing to do is meet the deadlines with solid, clean reports (review and approved by the CPA). This company seems to have a great deal of trouble getting their financial data in order, for the last 60 days I have been hearing the same story "they almost have them completed". I wonder how they propose to do business if it takes them 2 months to get their financial data squared away. I am handling $15 mil. worth of assets and it requires maybe 10% of my available time during the week. Maybe they have other reasons for dragging their feet on their financials??? I have a fair chunk of money in their stock and I am a little concerned with their inability to get things done. If they have difficulties completing their internal accounting, how do they bid a job and know they made any money, how can they understand their margins? Are they any better at managing their construction projects? Many times contracts contain penalty clauses, if you do not meet dead lines, the construction company pays late penalties. Maybe I should not be concerned, but it looks like they are off to a questionable start. What are your thoughts? Robert