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friendlyfred

02/14/04 3:30 PM

#60391 RE: chwdrhed #60387

Chowder, sorry I didnt respond. We cant know for sure until someone tells us where exactly that deferred 400+k came from. I am assuming it came from aps. They claim to have shipped 950 units to date. Judging by that and by the sec filings I have to doubt that they are getting 1000 dollars a piece for them. If that is the case and they are less expensive than we thought, I think it would be reasonable to say that our expectations of $200 per unit profit are out of whack also. Its also MY BELIEF that management is artfully deferring revenues as needed to prop up the numbers for weaker quarters. I dont have a problem with that, its just that sooner or later (mid 2005?) we have to see much bigger revenues and profitability. This game cant go on forever as far as shareholders are concerned. They can keep it going a long time for their own benefit (salaries and bonuses) but shareholder value will continue to decrease.

friendlyfred

02/17/04 10:21 AM

#60565 RE: chwdrhed #60387

Ot: Chowder, check your e-mail. Thanx

Fred