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Microcap & Penny Stocks : INFE ... Infocall another Sleeper -- Ignore unavailable to you. Want to Upgrade?

To: bob sims who wrote (9664)	2/24/1999 9:45:00 AM
From: Little Engine	Read Replies (1) \| Respond to of 10343

<<<The company expects revenues for the fiscal year ending Feb. 28, 1998 to be approximately $20 million, with net income of $350,053 or $0.04 a share. They are projecting for fiscal year ending Feb. 28, 2000 revenues of $100.5 million, a 399% increase over the previous year, with net income coming in at $4.1 million or $0.33 per share on a fully diluted basis. Projections indicate for fiscal year ending Feb. 28, 2001 could reach $200 million, with net income of $13 million or $0.76 per share on a fully diluted basis. >>>> Shades of FAMH and their wonderful "earnings"... wasn't the audit supposed be out from INFE by mid-February? Pick the next excuse: a) our lawyers are going over it, b) we have to "go over the footnotes", c) we're waiting for "confirmations" on a few things, d) we are so busy acquiring things we just don't have the time. Real answer: e) the Useltons are calling the shots. See also: MTEI. Hmmmm... interesting how they have earnings to the end of this month figured out to the dollar. That means that the auditors must be completely on top of things, and we should see the audit by March 15, right? Dream on. I would expect a press release March 1 though. It's amazing how INFE, without even an audit done, can project profits four years into the future, unlike any audited public company I've ever seen. Not only do they know exactly how much sales they will generate in the future, and exactly how much stock they will issue in the next few years, but apparently the exact sales and profit margins of companies they will acquire -- ones they haven't even approached. They must have psychic friends. With rapid growth as described, they must be depending heavily on growth/acquisition in the employee leasing areas. Yet the "2003" projections show them netting 6.5%, when the typical employee leasing operation nets 1 or 2 percent. Check out Administaff, etc. The numbers don't make any sense. If the company was doing so well it would not need to get into bed with *sleazebags* like the Useltons to hype it. All it would take would be releasing the audit -- but you won't get that. You will get releases of "projections", "letters of intent", "acquisitions", "the audit will be out any day now", "The next few weeks/March/April/May will be great" and "possible numbers" hype. And it will be months till the faithful wake up and realize they are being strung along week to week. We've seen it all before.