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Microcap & Penny Stocks : CSHK CASHCO MANAGEMENT Y2K -- Ignore unavailable to you. Want to Upgrade?

To: Michael Sphar who wrote (3176)	5/28/1998 7:09:00 PM
From: CatLady	Respond to of 7491

Michael, I also have a techie type background. Not much that I can say about your writeup except to agree fully with your analysis. The only appeal of this product would be to individuals and small businesses. And I still maintain that anyone who gives the subject much thought would opt instead for a more general purpose update program such as OilChange or Qdek's TuneUp. Those are supposed to cover all available updates, not just Y2k related. THe real need within a business environment is for a tool which will poke around at the data level to find 2 digit years in spreadsheets and databases. As I understand it, that is not included in the 11th hr. product.

To: Michael Sphar who wrote (3176)	5/28/1998 7:37:00 PM
From: CatLady	Respond to of 7491

"Now biodegradable kitty litter is another thing. I'm no expert but cats need to cr&p and will continue to do so in the next millennium. The question though, in my mind is shelf space. I note that CSHK plans on spending more than what its Y2K product is supposed to bring in, promoting their litter product. Will that be enough to buy the shelf space needed ? I dunno, as I said, no expert. But it does sound like their planning to spend their Y2K revenue stream down the ol bunghole." Again, an interesting observation. Let's look at the balance sheet in that pennystock report. BALANCE SHEET (10/31/97) Net Working Capital: $503,000 Long Term Liabilities: $300,000 Shareholders Equity: $218,000 Note the date, 10/31/97, which is prior to the contract with Merced. We don't really have any way of knowing how much cash has been burned in the last 6 months and no one has offered up revised pro-forma numbers, let alone audited figures. I suppose we should hope that they are paying George Palmer and The Pinnacle Group in shares because there's not much cash left. Oh, they also paid George at PennyStock something for the report. Now with the mysterious promissory note in the Merced deal, liabilities just went up to $550,000 leaving a negative shareholder equity. Or can they count the software license as an asset? maybe an accounting type can help with that point. Anyway, in my opinion, this does not look like a firm foundation for all the optimistic predictions that we've seen thrown around.