InvestorsHub Logo
Followers 0
Posts 394
Boards Moderated 0
Alias Born 10/15/2006

Re: Russian-Trader post# 28761

Monday, 11/13/2006 7:56:41 AM

Monday, November 13, 2006 7:56:41 AM

Post# of 79921
First thanks for making my point for me. If you buy a car for 10k, that somone else had on their books for 20k it is on YOUR books at 10 REGARDLESS where it appraises. If you sell it for more, then it is a cap gain. What they did was buy assets on the books for (x +80) for the purchase price of x. if you have a house that you bought for 500 k, and you sell it for 350, they buyer has it on his books at 350. Next....You believe they have earned 80 million? Good for you! Look at their announcements. They claim the companies they own NOW earned 7 million in 2005, some of it BEFORE they owned them. So, I'll give you 5. Where's the other 75 million in earnings?
Let me pose a question to you. Assume that the management owns a boatload of stock. Assume that they do in fact have tangable shareholder equity of 80 million. What would you do if you were management? Would you do everything in your power to file your financials? Would you hire an actual investment banker to "maximize shareholder value"? Would you get a competent IR department that clears announcements with corporate council? (Another glaring error/misrepresentation. One announcement best jets is 80% owned by pbls. the next announcement it is "wholly owned"!!! What is wrong with these guys????) Or would you sell unregistered company shares to finance acquisitions? A few years ago there were something like 400 million shares. now after two buybacks there will be 815 million (if you believe what they say). NO other reasonable conclusion can be made other than that they have sold UNREGISTERED shares into the open market/or to private parties.
Join InvestorsHub

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.