Replies to post #37984 on Bantek Inc (BANT)

[PD4107]

with the 10 Q news being losses, the 10 million share buyer the other day had to have taken a bath. he must not have known the track record of drus

[Stock_Barber]

Just read the quarterly and thought that I would share my thoughts...

Not only does the balance sheet show massive losses and insane debt, it shows a company that most likely won't be around much longer!

The debt certainly looks insurmountable and the convertibles will NEVER stop if that debt is to be repaid!

What investors need to understand:

Howco is a distributor! When they get a $1M order, their margins are just 4.5% ($45k). So even with $25M in sales, their "gross profit" would be only around $1.125M! Their selling, general, and administrative expenses are over $2M!

Their sales are meaningless because they lose money on every one!

And then, of course, there is the massive debt!

Simply put... DRUS is not long for this world!

I'm not saying DRUS can't rally if the conversion selling stops, but I would be very surprised if it does other than briefly...

It is a shame that so much money has been taken from the penny investors by just this one company...