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Microcap & Penny Stocks : The Henley Group, Inc. (HNLY) undervalued growth company -- Ignore unavailable to you. Want to Upgrade?

To: SJ - Stephen who wrote (688)	3/4/1998 8:00:00 AM
From: Steve	Respond to of 2232

SJ, Glad you actually visited SEDAR. I agree that balooning receivables and payables is a problem if it continues. One might expect an increase in debt to be used for cash flow purposes but we don't have access to day to day operations and point in time statements like a balance sheet and summaries like income statements don't tell the whole story. These are questions that can be put to management. As to advertising I think Magra shifted gears and is using other means to get their message out than advertising. I think the growth in professional fees may explain a part of this. A growing customer base can decrease a company's need to spend increasing sums on advertising. I hope others more skilled than I in Financial Accounting will jump in with an analysis. Regards