Tuesday, April 05, 2011 12:15:04 PM
It should be interesting to see what good ol' EV has been up to since the RS. Based on the last couple of quarterly filings, I would suspect nothing has changed (i.e. - hemorrhaging of cash offset by inflows from financing activities, loose explanations for Revenues (i.e.- Sales from CSD division) and no explanation for its $7.5M and rising deficit to date, etc).
Through the 9/30 10Q, EV's cash hemorrhaging has been greatly offset by financing activities (i.e.- proceeds from the issuance of stock). It will be interesting to see if this phenomenon is still taking place or if people have wised up and have stopped funding this facade.
If there is no mention by the "independent" auditor in regards to his lack of going concern, then this POS is worse off than I thought. The lack of disclosures around this company is horrendous. Not to mention the inability to file their quarterly financials on time.
Based on this track record, there are not many places left for EV to hide.
Through the 9/30 10Q, EV's cash hemorrhaging has been greatly offset by financing activities (i.e.- proceeds from the issuance of stock). It will be interesting to see if this phenomenon is still taking place or if people have wised up and have stopped funding this facade.
If there is no mention by the "independent" auditor in regards to his lack of going concern, then this POS is worse off than I thought. The lack of disclosures around this company is horrendous. Not to mention the inability to file their quarterly financials on time.
Based on this track record, there are not many places left for EV to hide.
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