P10 Industries Inc. (PX)

[bob4uall]

Now that I have impatiently sold my PIOE position, mainly because March is too far away for me, I have a question.

What was the PIOE-RCP merger for? I understand PIOE has NOLs galore, but RCP doesn't show a profit on PIOE's Income Statement to use them against. I can only suspect that they are somehow used for their tax returns, and it is certainly acceptable for tax return accounting to differ from the annual report. Maybe somehow the fund managers benefit by them.

And we don't see much in tangible assets on the PIOE Balance Sheet such as office space, equipment, etc., except for some prepaids, receivables & cash. Book value per share is small.

They generate tons of revenue, but that is kept as compensation by their so-called "owners", the fund managers.

They sure didn't seem to have the goal of being publicly traded; they keep themselves so far under the radar.

No complaints here-- they rescued me from bankrupt ACPW. But I have never understood the reasoning behind their new structure. For me to get back in, I would like to see why the share price would go up from these levels. Something holds the market price above the book value, and that only seems to be the predicted growth of what little revenue portion is channeled from RCP to PIOE. For everybody's sake, I hope those predictions aren't too high!