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Wednesday, June 01, 2005 3:11:52 PM
I liked the old press releases about specific dollar deals with named companies.
I don't like the reverting to the old pattern of press releases without detailed specifics. Some specifics on the purchase but not as much as there should have been.
To get $1 million additional net income if there is a shred of truth to, would have to cost a few million dollars.
One would assume under such circumstances perhaps $3 million cash was placed on the deal. I am holding in hopes that is true.
This would leave the question why not $3 million instead in buying back stock since it would be undervalued if $3 million cashflow plus has been generated in maybe less than 6 months by this reasoning. This would imply that not all money is in Bangladesh hands.
The theory again is maybe acquisitions are now being done for the purpose of preparing the company to look legitimate, look good enough to buy.
It all goes back to who is running this company. Deceptive and secretive, he definitely is. He also makes mistakes, ie trucking. The evidence though from those good looking press releases specifying names of companies and dollar amounts leads one to think he could be good at running the business to some unknown extent.
I hope 2004 audit helps.
sam
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