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

To: Q. who wrote (501)	5/27/1998 10:43:00 AM
From: Q.	Read Replies (1) \| Respond to of 709

Anybody remember LOCK? The stock is nearly up to $5 again on some amusing hyped up news release. This is the truly worthless company that used to offer color RGB monitors, and now makes (very few) safety locks for guns, and has a train-wreck for financial statements, and had a CEO who quit on her first day a while back after discovering how things were. Here's the hyped up news release: biz.yahoo.com The latest financial statements show some cash they got by selling equity and a very amusing $5 M asset, for prepaid expenses that was paid for with stock, that constitutes the biggest asset they claim. Here's the curious narrative from a recent NT-10Q: During 1997 and early 1998, Saf T Lok Incorporated raised capital in a series of complex transactions. In addition, Saf T Lok Incorporated recently received accounting comments from the Securities and Exchange Commission on the recently-filed registration statement on Form S-1 which gives the Company guidelines as to the matters that must be addressed in the Management's Discussion and Analysis of the Form 10-K. As a result, the Company will delay the filing of the Management's Discussion and Analysis portion of its Form 10-K comparing the fiscal year ended December 31, 1996 to the fiscal year ended December 31, 1997 in order to allow time for the Company to incorporate the comments it received from the Securities and Exchange Commission, to properly incorporate the accounting for all of the non-cash expenses incurred by the Company in 1997 in connection with these financing transactions and the compensation to consultants and employees and to adequately evaluate and explain the complex accounting treatment given to stock options and stock purchase warrants issued in connection with those activities.