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Strategies & Market Trends : Shorting stocks: Broken stocks - Analysis -- Ignore unavailable to you. Want to Upgrade?

To: drakes353 who wrote (1012)	4/30/1998 4:03:00 AM
From: Q.	Read Replies (1) \| Respond to of 2506

drakes, yow, your list of stocks that filed an NT-10k but failed to file the 10k on time turned up some real lousy companies. Take a look at the news releases at the bottom of the following link. quote.yahoo.com If you eliminate those that are indicated as now trading without the E, you end up with a handful of real stinkers, even among those trading over $5. TRIIE has what must be the ugliest news: SEC investigation, then the auditor quits and retracts opinion about 1995 and 1996 statements. Unfortunately, the stock quit trading Monday. I'll bet shareholders never see a nickel out of that company. Too bad we didn't look at that one last week, when it was trading at 7 1/4 ! EQMDE and MRIIE might be the next worst examples. Both are managements companies that manage medical practices, both were involved in lots of acquisitions. Neither seems to be able to keep its books up with its rapid pace of acquisitions, which IMO places them in jeopardy of not knowing how solid their situation is, in real time. The Sept. balance sheets for both companies shows a lot of assets that might be questionable. MRIIE has a curious news release about related party transactions: apparently two indept. board members started a forensic investigation of some transactions done by the co.'s chairman. EQMDE has what appears to be a pretty lousy cash situation, and according to their news release, they plan to write off a lot of assets (I'm sure because the auditor is forcing them to do so).