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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies -- Ignore unavailable to you. Want to Upgrade?

To: Jimmy Dell who wrote (16178)	11/24/1998 11:13:00 PM
From: Daniel Joo	Read Replies (6) \| Respond to of 119973

NM DD: I'm new here and I'm probably out of bounds as far as you guys' expertise, but I had a couple of questions. Has anyone read their recent 10Q and 424B3 filings? They are bleeding bad - cash flow is way out of line. They issued warrants to address the problem but they only have about $18 million left and their current liabilities are $83.5 million. I run my own business and this type of cash flow problem usually means lights out for a company. Their own internal auditors stated as much in their 10Q filings. Also in addition to their 25.5 million shares outstanding, another 57 million shares are reserved related to current and old warrant and preferred stock issues. In their 424B3 filing it also states that insiders have a right to short the stock to hedge against losses for their warrants. The Mitsui deal is great but only 11% of their revenues come from Japan. Something smells fishy to me. If this internet venture doesn't provide immediate payoffs, it wouldn't surprise me if they filed for bankruptcy and continued on. Tell me if I'm off base here because I'm new to this and just starting to feel my way around. Dan