I agree, why release the financials until/unless there is something good to release? But that could be a long wait, if that day ever comes at all. Mario has been trying to sell SuperWipes for some time now and the expenses have been there all along. How are they paying for SuperWipes production? New displays for DR? Race car sponsorships? Joe Nolfo's cross-country trek? Svetlana? Employee salaries?
The next year or so should make or break this latest business plan of Summit National Consolidated (Now called SuperWipes). THe last business plan failed and Walter ran off with the loot.
What would worry me if I were a long-term shareholder is the company authorizing additional shares rather than buying them back. Dilution is what kills these type stocks. Rather than retiring 27% of shares, think what would happen to the pps if the O/S doubled or trebled? We would see a pps forever relegated to subpenny levels.
I agree Mario shouldn't release poor financials if he doesn't have to but why tell shareholders they'll be released "soon" and then not mention it again in the months to come unless he was just trying to imply they would be worth releasing "soon" to pump up investors in order to sell some stock?
I am quite skeptical of the long-term prospects for this stock. However, short-term I do expect to flip out of it again "soon" with any buying pressure.
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