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Microcap & Penny Stocks : HITSGALORE.COM (HITT) -- Ignore unavailable to you. Want to Upgrade?


To: bob sims who wrote (1780)6/4/1999 10:37:00 AM
From: trader14U  Read Replies (1) | Respond to of 7056
 
hey...can i get some of that cheap .90 cent stock...I'll buy 500k worth...how much did you guys sell last month and at what price??? okay, I'll pay 1.25 just to get this short off of my sheets..call me.



To: bob sims who wrote (1780)6/4/1999 10:42:00 AM
From: jjs64  Read Replies (1) | Respond to of 7056
 
Hey Bob;

You had better check Bloomberg News....looks like E&Y is walking away from any association with HITT.

Also, I noticed you did not mention any of the really juicy sections of this mornings filing, like the shareholder lawsuits, the Michigan Consent Order, The most important pasrt you omitted was "Item 5. Other Items" where HITT asks to rescind its previous 10K filings....

Buyer Beware!



To: bob sims who wrote (1780)6/4/1999 10:51:00 AM
From: Q.  Read Replies (1) | Respond to of 7056
 
new 10Q says that the co. has retracted the 10k it just filed:


The Company has requested the permission of the Securities and Exchange
Commission to withdraw its amended Annual Report for the year ended December
31, 1997 and its Annual Report for the year ended December 31, 1998, both of
which were filed on May 26, 1999. On the day following the filing of these
annual reports, the Registrant was notified that the predecessor auditor, who
reported on the financial statements of the Company for the year ended 1996,
would not permit its audit report to be associated with any filing of the
Registrant. The reason given by the predecessor auditor was the voluntary
disclosure of certain matters by the Registrant regarding Mr. Dorian Reed, a
principal stockholder, in its Annual Report for the year ended December 31,
1998. The Company has also requested the permission of the Securities and
Exchange Commission to re-file its amended Annual Report for the year ended
December 31, 1997 and its Annual Report for the year ended December 31, 1998
without any audit report for the 1996 fiscal year.


edgar-online.com




To: bob sims who wrote (1780)6/4/1999 10:53:00 AM
From: Q.  Read Replies (1) | Respond to of 7056
 
10Q: shareholders equity & working capital were both negative on 3/31.

So this company has a liquidity problem.

The LFT deal won't help immediately, because LFT doesn't have to come up with cash for 12 months.

Nevertheless, in the filing the co. says that it believes that its cash flow from operations will be sufficient to fund the company for the next 12 mos.