Messaben Corp (MSBN)

[Danni]

Well, this new accounting firm is certainly on the ball! The financials for the first 2 quarters of this year are now out this A.M..

Depending on how you view things ( short term or long term) they are either " Bad" or " expected".

You will see a LOSS of 1.89 per share!! That would be shocking under normal circumstances! And a (.01) loss overall. How is that possible? Well, as the report states, they sold off the distribution section that they had started to build and has been stagnant for more than a year. But it had been assessed and valued at a higher rate than they had paid for it. Therefore, since it had been carried as a gain back under the old financial , which at the time showed as a goodly profit, that had to be corrected. The actual loss is (.01) per share

Some what confusing but not the terrible result one may take it for. So this report should be the deepest part of the turn around. What we really want to see now is the results for this last quarter. A beak even or any small gain would be very good news! Things do take time. Basically, we are still where we were; awaiting an up-dated resent quarter or some positive investment news. And hopefully, since this new firm seems VERY much on the ball, that won't be to long in coming.

I might also not to the positive that their new exclusive store profits have gone up by almost 50% and these new stores are a main thrust of their turn around efforts!

best to all