Inrob Tech Ltd (IRBL)

[ebaykamel]

Hey the 10Q was interesting to me and overall pretty good for a stock trading at these levels. The post before me pointed out the bad but that was already discovered in the sec filing from 2 weeks ago. If they reverse that decesion I feel like we will sky rocket but thats another topic. The most interesting thing to me was this about the manufacturing facility in the Philippines. "On December 24, 2007, the Company through its wholly owned subsidiary, Inrob Philippines, Incorporated, entered into a Manufacturing Agreement with CP Communications Services, Inc. (“CPCOM”), a Philippines corporation located in Makati City, Philippines. The Agreement provides for the lease of the use of CPCOM's premises on a full turnkey basis. Under the terms of the Agreement, CPCOM is committing to manufacture, and the Company has the right to order products with a total value of up to $28,500,000. In order to secure this right, the Company was required to pay to CPCOM the amount of $2,950,000, of which $1,000,000 was due by December 31, 2007, with the balance due and payable by March 31, 2008. The Agreement will remain in effect for an unlimited period of time. However, the Agreement may be terminated by the Company at any time for any reason upon ten days prior notice without refund of any amounts paid to CPCOM. As of December 31, 2007, the Company had paid $980,000 to CPCOM, which was considered as satisfaction of the $1,000,000 obligation. As of March 31, 2008, the remaining amount due of $1,970,000 was paid by the Company to CPCOM. As of June 30, 2008, the total non-refundable deposit paid to CPCOM amounted to $2,978,000, and was classified as a manufacturing deposit in the accompanying consolidated balance sheets."

To me this shows that they are expanding their business and capabilities as a real company with long term goals but we will see what happens. With any positive news this will go up big time.