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Microcap & Penny Stocks : ACRT about to move to new highs -- Ignore unavailable to you. Want to Upgrade?

To: Jan Robert Wolansky who wrote (5417)	5/6/1998 8:18:00 AM
From: Mr. Pink	Read Replies (2) \| Respond to of 7054

Because there is no investment banking fees in short research, quality work is generally done by small boutique firms that specialize in uncovering frauds such as Actrade. On the long side, reputable firms are preferred; However, Pink who is a highly regarded and experienced investor, has never heard of any of the firms recommending the stock. Mr. Pink

To: Jan Robert Wolansky who wrote (5417)	5/6/1998 8:20:00 AM
From: Mr. Pink	Read Replies (1) \| Respond to of 7054

To ALL: Actrade finally settle with Paul Gropman, the consultant who was in litigation with the company because Amos reneged on his commitment to pay his consulting fees with stock. See todays registration statement. Mr. Pink

To: Jan Robert Wolansky who wrote (5417)	5/6/1998 1:04:00 PM
From: Z man	Read Replies (1) \| Respond to of 7054

FYI from II ACTRADE INTERNATIONAL INC finances transactions using Trade Acceptance Drafts within the TAD Program. Greenwich Global Starts Actrade with "Strong Buy"; Buyÿ(5/5) Greenwich Global analyst John Flynn initiated coverage on Actrade International (NASDAQ: ACRT) with a "strong buy" rating on April 30. Flynn likes ACRT for its strong operating results and rapidly growing TAD program. Flynn noted in his report that ACRT has posted nine consecutive quarters of record results. In its third quarter, ended March, ACRT announced record-breaking revenue of $25.5 million, a 97% increase compared with the same period last year. Flynn expects ACRT to earn $0.52 per share this year on revenue of about $98 million. According to Flynn, ACRT has an aggressive expansion plan, but has no plans to raise additional equity. In fact, in the third quarter, current assets grew moderately and shareholders equity increased 27% to $20.5 million. Given the rapid growth of its TAD program, ACRT is concentrating on increasing the percentage of revenue derived from TADs. For the last three to four years, TAD revenue grew on average by more than 200%. Flynn expects TAD revenue to increase by more than 100% this year, accounting for more than $50 million of total 1998 revenues. ACRT's margins continue to improve. In the third quarter, the gross margin rose to 8.6%, up from 7.7% last year. ACRT cut its selling, general and administrative (SG&A) expenses to 3.7% of total revenue from 4% last year, resulting in better operating and net profit margins. Operating margins increased to 4.7% from 3.6% and net profit margins rose to 4.3% from about 3.4%. As a result of the aforementioned factors, earnings rose 63% to $0.13 per share. In addition, ACRT expects the growth to accelerate during the fourth quarter and fiscal 1999 mainly due to the increased concentration on its TAD program and also the company's two new offices that were opened during the quarter in Houston and Kansas City. We continue to rate ACRT a buy due to its continued growth prospects, solid balance sheet and attractive valuations at current levels. Updated 5/05/98 with ACRT at $14.50. Recommended 11/18/97 at $22.75. ACRT Analysis Archive ÿ