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poker_vol

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poker_vol

Re: None

Tuesday, 08/07/2007 2:13:41 PM

Tuesday, August 07, 2007 2:13:41 PM

Post# of 29237
Just a simple question...

From the May 9 PR - "Petel Incorporated, who amassed gross profits in excess of $300,000 in the period prior to their pink sheets launch..."

I can understand additional expense due to restructuring when a company is acquired, merged, etc. So I am not refering to net income or loss. My question is:

If in the period prior to going on the pink sheets Petel had enough top-line revenue to generate $300,000 in profits, what happened to make all of that revenue disappear so that in the quarterly report only $167k of sales are reported for FY06 and $43k for YTD FY07?
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