I will take a look at COPI. Can you direct me to any information concerning forward looking statements? I don't see any growth from their previous financials (admittedly I only gave it a quick look).
As promised I took a look at COPI but have decided not to include this in my growth portfolio. The reasons for this are described below.
1. I don't see the Company reporting a profit in the near future. I saw that a poster was projecting Net Income this quarter but my research shows otherwise. The poster in question projects SG&A of 268K for the quarter. I don't know where this number came from. Last quarter showed an actual SG&A of 613K which included over 200K of non-recurring charges. This shows a run rate of over 400K which has been steadily increasing. With SG&A at 400K+ the Company needs to show sales of over 900K to achieve break-even. This is a significant increase over the 467K in sales for each of the last 2 quarters.
2. I just can't get past the dilution of the Company stock. Yes I know that they need to issue stock to grow but the Shares Outstanding has increased from 50M in the June 2007 quarter to 130M in the March 2008 quarter. This is a 160% increase in shares over the previous 9 months.
I wish you the best of luck with COPI. I will continue to monitor their financial situation and will await a time when they can project profitability without serious dilution.
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