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Re: Mudslider42 post# 3104

Saturday, 06/11/2011 4:15:32 PM

Saturday, June 11, 2011 4:15:32 PM

Post# of 3150
It will be interesting what the 20th will bring.
I suspect many of the 17 companies will not resume trading.
Will PSGI be one of them?
What is a potential meaning to you, if you own stock, is you may have a future tax writeoff for your investment.
They have to convince market makers and brokers
about the truth of their PR's. The seafood is the only
thing I have found that has a valid corporate business license.
Even then, one would think you could find a business
address for it's warehousing operations. A phone number? A web site of its offerings? It was a
100% wholly owned subsidery, now reported to be 60%. No revenues
ever reported. All these other wholly owned subsideries, no reported revenues, can find business addresses, phone numbers.
All the fluff PR about sales.
Can't find valid corporate business licenses for any of them. Have found revoked business licenses for a few of them.
Many of their SEC filings. We have no revenues and depend
upon someone giving us money or from the sale of stock.
Kind of like this is Roger Mohlman's personal piggy bank
to break open every time he needs more money.
A hedge fund, owning convertible preferred shares, liquidated
the assets of this company about 5 or 6 years ago.

Last reported outstanding was 77 million shares. Probably much greater now. What kind of sales/earnings will be required to have a penny per share bottom line profit?
Let's say they have annual revenues of 5 million.
Very competitive market, gross profit of 1,000,000. 60% of that is 600,000. His SGA has been expensive. Let's guess bottom line could be 300,000 (probably high). That would make earnings per share of .0038 cents per share based on 77 million outstanding.

Restricted shares means they can not sell them on the open market for the period of time they are restricted. I believe they can sell them privately to accredited investors.

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