PowerLinx Inc (PWNX)

[wings1]

Have just scanned the financials. See two things which look inexcusable to me so far:

1) From 12/31/99 to 12/31/00 revenues increased only $100,000, yet the advertising and promotion expenses in the same period increased a total of $1,780,000. Not only was the timing off (very little product available to sell), but what an outrageous expense for such a paltry return in revenue. There's no breakdown to see how much went to McBride's PR agency, is there?

2) Professional fees jumped from $34,000 to $445,500. The report states some went to "consultants and professionals" (and just who might they be?) and also to attorneys and accountants. (It reads as though "consultants and professionals" do not include attorneys and accountants.) Again, no breakdown. Whoever gave the "consultations" apparently had no expertise in containing costs for unnecessary things.