Spare Backup, Inc. (fka SPBU)

[Leo9]

SPBU Preferred stock, $0.001 par value

It looks like the market value of the company's stock already reflects the potential of the sales' growth - SPBU current market cap is over 40 times the actually reported sales in the past four quarters. Moreover, what the PR fails to mention is that the sales have actually decreased in the reported quarter when compared to three months ended June 30, 2010. That decrease is not exactly insubstantial: over 30%.

Also not so positive is a comparison that takes into account the six-month period - the decrease of the sales there is by almost 75%. Respectively, the net losses stay in the millions, while the current liabilities of SPBU go already over $11 Million, most of which convertible into shares. Despite the management's optimism about the new distributors of the company, that can hardly be called such an optimistic financial report.

Accumulated deficit $113,026,027 and counting...

Preferred stock, $0.001 par value, 5,000,000 shares authorized
Common stock; $.001 par value; 300,000,000 shares authorized