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Microcap & Penny Stocks : NPET Nicollet Process Engineering Inc. -- Ignore unavailable to you. Want to Upgrade?

To: rustyjack who wrote (11)	3/17/1998 11:24:00 AM
From: Cem Sibay	Respond to of 17

I am surprised at the enthusiasm for this company. They have consistently recorded losses since their IPO in Spring of 1996. Their latest balance sheet notes a empty ($0) cash account and a liability account called: Checks written in excess of bank balance of $ 116,072. That means they have completely depleted their IPO proceeds of $4.3 million. Not surprising for a company that has had negative gross margins (third quarter of 1996). Negative gross margins imply that the sum of all the parts and labor that went into Nicollet's products were worth less than its individual components! Even in their latest quarter, NPET's gross profit was a mere 25%. None of these are either common nor a healthy sign for a public company. The company's stock price today is about a tenth of its initial IPO price. You may also want to note that since NPET has failed to meet the minimum listing requirements for the NASDAQ small-cap market, it was de-listed last week and is currently only trading OTC. I'm sorry if I sound to critical about this company, but if I'm failing to see something extraordinary about this company, please let me know. Cem