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Microcap & Penny Stocks : Leah Industries, Inc. (OTC-BB-LEAH) -- Ignore unavailable to you. Want to Upgrade?

To: CYBERKEN who wrote (1635)	3/13/1999 11:49:00 PM
From: Baton	Read Replies (1) \| Respond to of 2153

I am long on Leah, I hope like heck that this all works out. I have a very considerable investment in the company. I have posted here several times stating my excitement for the future of LEAH. I invited several of my friends and family to invest their hard-earned money in LEAH. However, I most likely was very stupid to believe that I could turn a five or ten fold profit on this compny. I do DD, but not enough in this case. I have many concerns, and unfortunately, I am not as confident as many of you. I hope I am wrong and will eat a major footlong crow sandwich if I need to. Over the last 2 days, I have gone back and read nearly every message on this and the RB board. This possible incident with D&T is not the first time LEAH has had trouble with doubt on who their auditors were. In the summer, it was posted several times that Price Waterhouse was the auditor. It was posted all throughout the early messages in the summer of '98 that they were just a few days from an AMEX listing and audited financials. Many of these posts were through Andrew from the company. It was posted that LEAH was buying back shares and that Morgan Stanley was handling the share repurchase. People have stated that the management always comes through with the goods. I did not feel that way after I read through the following posts (#426,445,456,470,491,496,500,539,582,599,628,650,688 real interesting!!!, 702,713 and so on..). I want to be positive, take the blame for my own investing successes and failures, and hope to God that I am wrong and have to come back to the board begging for mercy. I did call and e-mail the company on Friday, and I have not yet heard back from them. It does not do us any good to swear, name call, threaten legal action or whine. We need to find out exactly what the company is, what they really own and just where they might be with in regards to a real financial statement. Hopefully announcements Monday will make me look foolish. Baton

To: CYBERKEN who wrote (1635)	3/14/1999 8:42:00 PM
From: Andrew H	Read Replies (1) \| Respond to of 2153

Thought I would repost an edited version of the 3rd Q earnings report in which LEAH clearly states that D and T (CIS) is its auditors and further that D and T has advised them in regard to this consolidated 9 month statement. Clearly they are either telling the truth or they are not. I believe they are. I do not believe they made this up. We should soon hear of confirmation from Deloitte and Touche (CIS), in my humble opinion. Now we sit tight and wait to hear from LEAH and the SEC. >>Wednesday December 23, 10:24 am Eastern Time Company Press Release Leah Industries Inc. Reports Earnings SAN ANTONIO--(BUSINESS WIRE)--Dec. 23, 1998--Leah Industries Inc. (OTC BB:LEAH - news) is pleased to report its earnings on a consolidated basis for the nine months ending Sept. 30, 1998, at (rounded) $28,500,000 or $1.29 per share (fully diluted) before one-time special charges, write-offs and write-downs in the amount of (rounded) $27,000,000 or $1.22 per share. The net earnings per share for Leah in the amount of (rounded) $1,500,000 or $.07 per share, reflects the company's decision along with their auditors, Deloitte & Touche (CIS), to incur all the charges connected with the acquisition of SibMach as well as other one-time write-offs and write-downs incurred during the nine-month period to bring efficiency to SibMach's operations and to close and/or consolidate certain divisions. The financial results for the nine months ending Sept. 30, 1998, are based on revenues for Leah in the amount of (rounded) $66,000,000 and net income in the amount of $1,500,000. Net income before special charges, write-offs and write downs in the amount of $28,500,000, represents a 16.8% increase over the same nine-month period (pro-forma) in the prior year in the amount of $24,400,800. Birte Boock, CEO of Leah Industries stated, ''We are certainly pleased with the earnings before the special charges. The hard part is taking the required special charges, write-offs and write-downs currently. In the long run, our financial statements will be stronger and reflect our operations as we go forward unencumbered with these expenses now that they have been accounted for. Our auditors, Deloitte & Touche concur with our decision to report the most conservative financial picture as we can for our investors as we turn the corner and continue to grow the company.'' Leah Industries is proud to report that SibMach currently has proven oil reserves of approximately 800,000,000 barrels of which 60% (480,000,000 barrels) accrue to the books of Leah. The value of these reserves and their impact on the book value of Leah will be computed by Deloitte & Touche (CIS) and will be reflected in the Dec. 31, 1998, year-end audited financial statements. <<