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To: M Murphey who wrote (23139)8/19/1998 4:55:00 PM
From: John Fairbanks  Read Replies (3) | Respond to of 27968
 
Ugh. Current assets compared to current liabilities... ouch. No wonder
they went public on the OTC:BB in a desperate effort to raise cash.
Notice a huge portion of the liabilities (over 800K) was payroll taxes...
Looks like they were doing the same thing Myriad was doing -- spending
the payroll tax money as operating capital.



To: M Murphey who wrote (23139)8/19/1998 4:56:00 PM
From: Freddie Forte  Read Replies (1) | Respond to of 27968
 
.06 cent loss on approx. 19,000,000 shares outstanding. In '96 they had this many??? It looks like alot more shares were out before any of us knew what hit us.



To: M Murphey who wrote (23139)8/19/1998 4:59:00 PM
From: R. Murphey  Respond to of 27968
 
Looks like they are using approx. 20 million shares for their figures. Shouldn't there be a figure for current outstanding shares to serve as an accurate comparison, year to year? Other observations??

The current ratio does give a big flag. What a position to go into '97!?!?!



To: M Murphey who wrote (23139)8/19/1998 4:59:00 PM
From: Terry Lyon  Read Replies (1) | Respond to of 27968
 
The statement still says unaudited. I guess this is for legal reasons. If I calculate right with (0.06) loss per share for $(1,131,573) net (loss) means about 20 million shares at that time. Assets were only about 1/10 of expenses. We'll see 1997 results soon I hope.