MSE Enviro-Tech Corp.(fka MEVT)

[Student86]

A quote from Gilda99 (the full post can be found over at the "not-so-sister" company's board):

Student, while I realize that A**L 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.