Monday, July 07, 2003 10:18:02 AM
I think the company is real, not a scam. I believe Matin is struggling through difficult times that could have been avoided, but I also believe there is a real audit being done. What the release of the audit will do remains to be seen. I imagine Q1 & Q2 will show a drop in earnings. The real question is whether the company can recover.
My guess is that he expanded based on a view from behind rose colored glasses and now is finding reality to be harsh. He still has a good producer in the mills and the apparel business, I would think - after all, that is where his experience lies. Everyone I talk to says trucking is a tough business, and perhaps Matin is finding that to be all too true.
As to govacations, I agree it was not a good fit. I don't recall seeing anything happen with govacations.
A thing good about this stock is one can own a great many shares for what amounts to pocket change. At this point, I have decided to ignore the investment aspect and just consider it for its entertainment value - watch the soap opera play out. It may result in a good return, and it may just go away into penny stock oblivion. Oh well.
What I would like to see: Audit. Cut back any expenses that can be cut. Focus on what is making money. Do a classic retrenchment/reorganization. At this point, I don't know whether trucking, the mill or apparel is the drain but I would guess the trucking business is very expensive to run and there seems to be a lot of smoke coming out of that division. Where there is smoke, there is fire.
All in all, I would give this stock a 'neutral' rating. It could go either way. The company does have a product. The task now is to focus on that and stay out of other businesses.
FEATURED Element79 Gold Corp. Reports Significant Progress in Community Relations and Development Efforts in Chachas, Peru • Oct 9, 2024 10:30 AM
Unitronix Corp Launches Share Buyback Initiative • UTRX • Oct 9, 2024 9:10 AM
BASANITE INDUSTRIES, LLC RECEIVES U.S. PATENT FOR ITS BASAFLEX™ BASALT FIBER COMPOSITE REBAR AND METHOD OF MANUFACTURING • BASA • Oct 9, 2024 7:30 AM
BNCM COMPLETES MERGER WITH DELEX HEALTHCARE • BNCM • Oct 8, 2024 9:54 AM
CBD Life Sciences, Inc. (CBDL) Reaches Unprecedented Heights With Explosive Growth and Strategic Expansion in 2024 • CBDL • Oct 8, 2024 8:00 AM
Unitronix Corp. to Invest $3 Million in USA Unity Coin Project • UTRX • Oct 7, 2024 7:08 AM