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Microcap & Penny Stocks : Panther Resources Ltd. (PTHR NASD BB) -- Ignore unavailable to you. Want to Upgrade?

To: Irish Jack who wrote (238)	6/10/1998 10:44:00 AM
From: Luc Beaugrand	Read Replies (2) \| Respond to of 618

American are very liberal !!!!

To: Irish Jack who wrote (238)	6/10/1998 12:22:00 PM
From: Greg Largen	Read Replies (3) \| Respond to of 618

Irish Jack, I urge you to look at Panther's latest balance sheet. It's readily available on their web site. In a normal company, current assets should roughly equal current liabilities. In accounting, "current" means that this money should be realized within 12 months. In Panther's case, current liabilities are 10 times current assets ($666,086 vs. $64,251). Not a pretty picture, you could not run your household finances like this. So where do they get the money? Let's find out. If you look at stockholder's equity you will see that there was $13,551,340 in "additional paid-in capital" this is the money they received for the stock offering. Now, they have to account for this somehow so that the balance sheet "balances." So what do they do, they immediately subtract $10,471,482 and chalk it up to "deficit accumulated during the development stage." What does this mean? Your guess is as good as mine; most companies explain verbiage like this in the notes or additional statements. Panther does not. Probably for good reason. Some of this goes to salaries, equipment, etc. But on the balance sheet, equipment and property only account for $3,719,143. Where did the rest of it go? For the shareholders, they only list equity of $3,117,308 (they list "stockbroker's equity" but I'm willing to let this go as a typo). Again, where did the money go? Are they crooks? Probably not, but I'm not a lawyer or a specialist in securities law. Does stuff like this happen all the time with penny stocks? I'm afraid the answer is YES! I'm sure Panther has a property and they may even be digging in the sand. But do you believe Gordo, Penny, et al. have your best interests in mind? I'd be suspicious considering their track record. Let's see you find some of Honest Abe's former shareholders and see if they think they got lied to and then ripped off. LOL

To: Irish Jack who wrote (238)	6/10/1998 1:51:00 PM
From: pete meyer	Respond to of 618

Yes but Abe didn't make money on the backs of stock holders each loss that he had.

To: Irish Jack who wrote (238)	6/10/1998 1:57:00 PM
From: jimmy	Read Replies (1) \| Respond to of 618

I wouldn't even trust Gordon, Penny, and company with my garbage. I won't repeat what's been said already, nor do I care to dig up old news releases and postings for you. Day trade this sucker if you wish... but before you "invest", it would be wise to do some digging into the background of this management crew. This crew has a reputation for making empty promises time, and time again -- with none of it (not one) ever realized. Funny how URT made no money -- not even a penny -- we're talking ZERO revenue.. yet after years of milking its shareholders, Gordon & Penny somehow manage to land on their feet while URT shareholders are left eating dust.