You are probably right. The difficulty in DD is that if you gag the TA, publish false unaudited financials, release false PRs, claim contracts you don't have, set-up bogus offices that appear functioning (and I am not talking about PBLS), hire pumpers to make false claims, entertain stockholder visits and deceive them...then DD is somewhat a waste of time until when and if AFs are published or some other means outside the company itself validates its existance other than suspended trading. That's always a clue. These situations, which are the rule rather than the exception makes these stocks inherently a gamble. Everyone is gambling at the moment that PBLS will report as claimed and that the share structure will become known as well as the earnings. Then if they do release that information, then we are gambling that the information is true...if unaudited. If this were google or GE or Mcrosoft, etc. we would know that earnings are going to be released quarterly and projections would proceed those earnings because it is required by the SEC. But, there are no guarantees that your big blue company may not be an ENRON or Health South...fraud again. So, you can use the DD argument all day long, but if a company elects to commit fraud, it does not matter. One thing I have learned is not to trust anyone. And I think that is where I am coming from with my posts. Thanks.
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