Atlantic Power & Infrastructure Corp. (AWSL)

[Gilda99]

Student, while I realize that AWSL and MEVT share the same management team, I’ve never paid any attention to MEVT since they haven’t issued annual financial statements (at least according to pinksheets.com) since their fiscal year ended March 31, 2007 – more than three years ago!!! That’s an automatic disqualifier for me.

Accordingly, I’m not surprised at whatever is going on with MEVT. Financial statements represent management’s scorecard, at least in my opinion, and buying into any penny stock without seeing current financial statements, ESPECIALLY FOR THREE YEARS RUNNING, is just asking for trouble. You can say that these stocks are literally only pennies per share, but they may well be worthless if they have no assets, no business, no business plan and no responsible current financial reporting – all pretty fair indicators that management is not on its game.

Personally, I don’t see much value in management by press release; been there, done that. I’ve lived in a world of autopsying failed businesses and many share some of the same characteristics – starting with inadequate internal controls, poor financial reporting and get-rich-quick management. As Doubloon once characterized pennystocking, it’s “dumpster diving” and I agree.

I guess, if you’re lucky enough to find a diamond-in-the-rough before the Company matures and learns to behave like a sophisticated business, you can make a windfall, but I’ve never won the lottery and I don’t expect to any time soon…

I owned shares in Apple Computer, Inc. in the early 1980s when the Board threw out Steve Jobs in favor of their savior, Pepsi's John Sculley. John who? Even brilliant companies make big mistakes, but without sound financial reporting how are you supposed to know the good management from poor management? Without any financial reporting for three years running, you're likely to be toast already and just don't know it.

BTW, I still own my AAPL shares because I'm a patient long-term investor rather than a speculator trying to find my way out of the dumpster...

Gilda