PowerLinx Inc (PWNX)

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Gotinearly lets not forget this post from Bill Branum.

Not only did SEVU report the sales as revenue they included this GEM in the filing!

Posted by: BillBranum
In reply to: BillBranum who wrote msg# 10232 Date: 7/22/2001 12:30:54 AM (ET)
Post # of 10442

In fact, SEVU itself stated it

From the 10Q (quarterly report for the quarter ended June 30, 2000) filed with the SEC on August 14, 2000:

“REVENUE RECOGNITION. Revenue is recognized at the time of product shipment. Such revenue is recorded net of estimated product return. At June 30, 2000, estimated amounts for returns are not considered material.”


http://www.freeedgar.com/search/ViewFilings.asp?CIK=894536&Directory=1016843&Year=00&SEC....


Wow, it seems SEVU can’t even claim the “mis-information” was out of ignorance of proper accounting procedures. OK, if it wasn’t a “mistake” then it must be ………..???

Bill Branum


GET REAL! SEVU must compensate shareholders who purchased shares based on the fraudulent filings. Does not matter if insiders made money, The shorts have nothing to do with it. The filed 8k says it all! PERIOD!

JP