Asberry 22 Holdings Inc (ASHI)

[bernardsamuel]

I'm going to be doing a few things tonight, so I'll be posting piecemeal about my analyses and reactions to the 10K.
1. Through nine months there was a NET LOSS FROM OPERATIONS of 131K, and the year-end NET INCOME FROM OPERATIONS is 231K. So the fourth quarter ran a 362K net income from operations. ...which gives me an initial impression that dilution (the reduction of interest expense at the "cost" of more shares to eventually spread the profits over) wouldn't be the worst thing going on.
2. As of today, there are 90.3 million issues shares, up only slightly from Fife's filing which would have shown something like 89 million shares issued. So I have no clue at all as to who was selling the stock when all the good news about sales growth was coming out.
3. The bottom line net loss for the full year was 635K, up from 482K after nine months. So we'll all be looking at the non-operating items (interest and the like) to see what's been going on, primarily whether these non-operating items are cash-draining or just accounting entries.
4. They've included a statement regarding seasonality which should help us down the road. They're saying that the third fiscal quarter (January through March) is the slow season, so let's not get concerned when we see a dip in sales for that quarter.

More to come later on, hope this is a good start...