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Microcap & Penny Stocks : KWIN Kenwick Industries -- Ignore unavailable to you. Want to Upgrade?

To: Chris O'Keefe who wrote (26)	2/15/1999 8:11:00 AM
From: ColleenB	Respond to of 264

"Additionally, we will soon begin our ad campaign for the new Blip and Blab Children's Series, from the acclaimed language programs of Philips Electronics N.V. Chris, Have you ever heard of Blip and Blab? And acclaimed language program, would this be integrated into the school systems or as cartoons to the general public?

To: Chris O'Keefe who wrote (26)	3/15/1999 8:04:00 PM
From: Little Engine	Respond to of 264

<<<Kenwick Industries, Inc. (OTC BB:KWIN) today reported higher than expected 9-month revenues for their Automax Division Automax' consolidated income (unaudited) for the 9 months ending September 30, 1998: - Income: $3,225,000 - Cost of Sales: $1,592,351 - Gross Profit: $1,632,649 - Operating Expenses: $299,527 - Net Earnings Before Taxes: $1,333,122 - Pre-tax Earnings Per Share on 3,900,000 shares (Automax Division only): $.34 Kenwick President Ken Wulwick explained the significance of the Automax report saying, "These figures exceeded our early expectations for the Automax Division. It should be noted that the $.34 EPS is before taxes.>>>>> The true significance of the report is threefold. First, according to the earlier KWIN press release, the Automax Division was not even acquired until August 24. *How can they claim earnings per share for something they didn't even own?* Unless, of course, they are lying. Do you see the words "pro forma" in there anywhere? Second, why did the former owners of the Automax division sell companies making $1.3 million over 9 months for about a million dollars in KWIN stock? To top it off, the stock is restricted. I could have found them a lot more in cash from a buyer for a company generating about $1.7 million per year in profits, I think. A buyer willing to lay out $3.5 million in cash would have made 50% on his money in a year. Not bad. I'd take that deal. Wayne Huizenga would have been very interested. Unless, of course, they are lying. Third, how are they selling cars for twice what they paid for them? Oh yes, they do "financing" too, I forgot. But that would require them to be loaning out money at 100% interest, apparently... (cost of sales being $1.5 million while profits are $1.6 million). Unless, of course, they are lying. They are apparently the greatest auto finance company ever. GMAC ought to talk to these guys.