Actually, because Mid-Coast lost a major client, it appears that CRGO will be short about 1 million per quarter this year in revenues, and, I saw a projection on their website of 20 million dollars this year, which has previously been removed from the history site.
Anyway, that would be 16 million dollars which would leave 5.5 million dollars for the 4th quarter. If you look at the 10Q you can see that they lost operating profits of 260,000 this quarter on 3.8 million in sales.
If you figure 5.5 million dollars for the 4th quarter, and you assume a slightly smaller percentage of expenses, then the company will show OPERATING PROFITS in the 4th quarter.
Then, if the CHINA connection helps Mid-Coast to regain revenues, plus some new growth from Trucking and Airline contracts, CRGO could have a PROFITABLE YEAR in 2006.
You have to remember, this stock was at 2.5 cents, now it is at .006 cents. That is 75% down. The revenues are about 20% down. Stock should be trading at .015!
GLTY
