Replies to post #341 on Leatt Corporation, Inc. (LEAT)

[RoyalShmily]

I have been so damn frustrated with this (and busy) that I missed this from the article you found:


ROBIN HOOD DOCTOR FOUND GUILTY
"A Robin Hood-style doctor, who defrauded medical aids of
over R90 000 to help patients who battled to pay levies, has
been found guilty of unprofessional conduct by the Health
Professions Council."

"The sentence was suspended for five years."

"When Leatt bought his Eerste River practice, he inherited the
fraudulent billing system. He discovered the system after six
months and stopped it. However, when his waiting room
cleared, he felt forced to return to the old system to regain old patients so he could repay his large practice bankloan.

The HPCSA's Kantha Padayachee said that the theory of
stealing from the rich to give to the poor could not be
condoned. However Van Niekerk said in sentencing that the
committee considered Leatt's co-operation with the police and
consistently guilty plea. He had shown 'extraordinary remorse'
and had repaid the full amount to the medical aids and his
R30 000 court fine."


This is Good News. At least it gives a potential excuse to lose focus.

I agree that Leatt has been in over his head from the beginning, I have been watching for way too long.

I agree too, that W. Buffett would love to find this company and buy it for this amazing product and market.

The brace works and everybody has one or wants one, and everybody in that friggin industry knows a "Leatt"
like they know a Coke or an Imac.

WTF
Someone here will come out smelling like a rose.

I am still long since seemingly forever ago mid '06 - but I had to stop looking at the crap they are spewing.

They are being forced to grow UP really fast, though, and Doc Leatt (apparently) needs a clear head.

Sorry for the rant.

But know I'm here with you, and it has been ridiculous for a while.

The "Leatt Brace" is insanely undervalued here.