Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Q. who wrote (1049)	5/13/1998 11:30:00 PM
From: Mark Marcellus	Respond to of 2506

<<A bald faced lie it was>> John, I've spoken with this company a couple of times, pored through their marvelously creative SEC filings, and watched them spin "20%" earnings gains out of flat line growth for quarter after quarter. I'm still not sure whether they're out and out liars or whether they really believe their own propaganda. One thing is for sure. If IR told anyone who owns the stock that they expected an extension, the papers should land in court about 9AM tomorrow. For anyone interested, today's statement issued by the company is reproduced below. It's from PR Newswire, so there should be no copyright issues. Note that the good ol' boy accountants are expected to issue an unqualified opinion. I wonder whether they'll get cold feet if the lawyers start circling around. CHARLOTTE, N.C., May 13 /PRNewswire/ -- Swisher International, Inc. (Nasdaq: SWSH SWSHW), the nation's leading franchisor of commercial hygiene services and products, announced today that the Company intends to appeal its delisting by Nasdaq. This action was taken by Nasdaq mainly because the Company could not timely file its 1997 Form 10-K. The Company stated that the filing delay was unavoidable primarily due to the resignation of the prior auditors, which occurred prior to the filing of the Company's 1997 Form 10-K with the Securities and Exchange Commission. The Company has since engaged new auditors, which have projected completion of the 1997 audit in the near future. The Company intends to file the applicable Forms 10-K and the 1st Quarter 1998 operating results as soon as practicable. "We expect that the Company's financial statements included in the Forms 10-K will be accompanied by unqualified auditors' opinions. Additionally we expect to announce 1997 earnings within two weeks," stated Pat Swisher, C.E.O. SOURCE Swisher International, Inc. CO: Swisher International, Inc. ST: North Carolina IN: ENV HOU SU: 05/13/98 13:19 EDT prnewswire.com

To: Q. who wrote (1049)	5/13/1998 11:35:00 PM
From: drakes353	Read Replies (2) \| Respond to of 2506

John: Thanks for your post. After having missed TRIIE I'm happy as a clam to be along for the ride on SWSHE. Good point about the re-listing thing. For all I know this pup could reopen at $5 on the Naz next week. In their press release today they said "they expect to announce 1997 earnings within two weeks" but they also said something about doing their SEC filings "as soon as practicable". They need to complete and file an updated '96 10K, the '97 10K and the '98 Q1 10-Q (the Q by 5/15). All this "within two weeks"? I don't think so. Would love to see them miss their self-imposed two week deadline and head on over to the BB. drakes353 PS to anyone shopping for "E" stocks: Here are current the Naz/NazSC, over $5 "E"s as of the close 5/13......EQMDE, IICRE, PAMCE, WHELE (TRIIE continues to be halted last I checked.) While I'm at it here are some recent Naz/NazSC reverse split jobbies trading above $5....DLPHD, MRPSD, PLPTD.