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Microcap & Penny Stocks : Integrity Incorporated (ITGR) -- Ignore unavailable to you. Want to Upgrade?

To: William Harvey who wrote (15)	10/29/1998 6:32:00 AM
From: William Harvey	Read Replies (1) \| Respond to of 62

Notable in the latest 10Q is that product masters was adjusted $700k. Otherwise the earnings for the quarter would have been closer to $.20/share. For a discussion of the product masters charge, here is an exerpt from the Aug '98 10Q: Current book value for product masters is $8.7 million. From time to time, the Company analyzes the book value of its product masters and adjusts, as necessary, for those product masters not expected to recoup recording costs. Write-downs to the value of product masters for the years ended December 31, 1997, 1996 and 1995 were $0, $1.7 million and $659,000, respectively. On the face of this, it would appear that the product masters are holding their value better. Perhaps now investors will feel more security with this security. Taking a look at the Integrity chart, it looks like we have some upside resistance at $2 11/16. Since the breakdown at the end of September, we've had a stairstep rally (higher highs followed by higher lows) which is pretty strong. One more step and we're through the ceiling. ITGR has held its value better than most small caps since April. Right now the earnings over the last 12 months is 25.7 cents/share. I think we could reach a price of $5/share over the next 12 months. Integrity has demonstrated without a doubt that the huge product masters writeoff a couple years ago was a one time charge related to de-emphasizing gospel music. If you haven't joined ITGR's music club, Hosannah!, you missed a great CD - Adonai. It bowled me over. Sacred music isn't just for Grandmas! WH