I appreciate a good PR - however, the one on July 12th is full of holes.
Let me explain - many here know I really feel that the revenue statement was misleading. I still do - even in light of the PR on July 12. Pay attention to the WHOLE PR.
Here is my breakdown:
From the PR:
At this time the company is disclosing below certain financial data. Although the company anticipates that these number are materially close to being final, they are still subject to adjustments and only the financial statements filed with the SEC are to be considered as final numbers.
My analysis (FWIW):
The "company anticipates" - "materially close" - "subject to adjustments" - "only financial statements to be filed are considered final numbers". These statements leave so much room for error and manipulation, similar to the shortly or soon time frame from the company. When does shortly and soon mean a two month waiting period? Similarly, materially close, from their context, what does that mean? AND if they can definitively say in a PR that the revenues are 8.3M, then why not release the financials? There is no definitive on that number.
Following on more of the analysis:
The "Forward looking statement disclosure clause" states the following, which gives the company the "legal backpedaling" they need -
This press release may contain forward-looking statements, including information about management's view of the Company's future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements.
Notice it says in the PR - the company ANTICIPATES
Furthermore - the forward looking disclosure says - Such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it can give no assurance that its forward-looking statements will prove to be correct.
Again - the company give no assurances that these statement prove to be correct
If annual revenue was so good and the 1Q revenue just as good, why didn't this skyrocket? Oh, oh - pick me let me guess. Well, first, this is a PR - not an actual filing. Actual filings have to be accurate, PR's ... meh. They can always place the "forward looking disclosure claim" to backpedal and restate the revenues with the correct (much lower amount).
The reason behind the PR was supposed to help raise the price and then send 1.2 M shares into dilution. And that is what they did.
This is just my opinion, my .02 (or one share) for the day...
