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Microcap & Penny Stocks : HGRM--Any Followers? -- Ignore unavailable to you. Want to Upgrade?

To: WallStBum who wrote (1671)	1/22/1999 8:49:00 AM
From: WallStBum	Read Replies (1) \| Respond to of 3576

Ah ha. I see - a little class action, action against ABH dax

To: WallStBum who wrote (1671)	1/22/1999 8:57:00 AM
From: Jim Burnham	Read Replies (1) \| Respond to of 3576

Any idea what happened to ABH? At first I thought they had screwed up their Q2 and Q3 numbers, but that was being too kind. Below I've included a paragraph from a Business Wire news release from ABH. Basically, they over-stated Q2 and Q3 numbers and their Q4 numbers will be significantly lower than 1997 numbers. All of that earned them 10+ class action lawsuits. Never been in a shareholder lawsuit, but I've heard that usually nothing happens to the CEO or CFO, the shareholders only get pennies on the dollar, and the lawyers make a bundle. Heck of a penalty for investing in the wrong hologram company. Jim Based upon currently available information resulting from the in-progress 1998 audit of the Company's financial statements, sales and net income of the Company have been over-stated for the second and third quarters of 1998. These over-statements may be material and will require re-statements of the Company's financial statements for such periods. Since the investigation is in a preliminary stage, the Company cannot estimate the amount of any adjustments or changes to its financial statements that will be required. Revised financial statements will be issued upon completion of the investigation. The Company indicated that the results of the investigation could impact future results of operations. Additionally, based on available information, the Company expects that revenues and net income for the fourth quarter of 1998 will be significantly lower than that of the fourth quarter of 1997.