Replies to post #14579 on PowerLinx Inc (PWNX)

[Moron]

I just posted this over on Raging BS, but it seems appropriate here as well:

Um… On July 31, SEVU issued a PR stating that they had entered into an agreement with nationally known loan shark Sun Capital. According to the 7/31 PR issued by SEVU (and still posted on their website), "The initial receivables funding began Monday, and we have concurrently begun the process, with Sun Capital, Inc. and two other firms, of securing purchase order funding. We expect to have purchase order funding in place in the next 30 days. Each of these financial facilities will significantly enhance our cash flow and solidify our ability to meet delivery dates on our growing order backlog."

Was that yet another broken promise made by SEVU, or did they spend it already? If this “growing order backlog” existed and was growing in July, and they have “funding”, why aren’t the sales reflected in the 10Q?

A 28% increase over the same quarter a year ago? We all know they sold virtually nothing a year ago (as evidenced by SEC filings). It wouldn’t take much to improve upon that, particularly when this quarter included their two greatest opportunities to date. Sounds like HSN was a much of a failure as Costco.

Put a fork in ‘em. They’re cooked.

[Madhatter]

Here is the full text. Stop looking at ways to put lipstick on this pig. You look at statements about the shorter term period and try to make the company look good by it. Anyone who looks at this company over time can see what is happening.

Now go and pick up your check from SEVU


Results of Operations

Nine Months Ended September 30,2002 and September 30, 2001

Net revenue. Net revenue decreased 24% from $683,216 for the nine months ended September 30, 2001 to $518,315 for the nine months ended September 30, 2002. Marine product segment sales were $204,009 or 39% of total revenues for the nine months ended September 30, 2002. Security product segment sales were $314,306 or 61% of total revenues for the nine months ended September 30, 2002. The Company's security products were first introduced for sale in May of 2001. Product segment data was not available for the nine months ended September 30, 2001 to provide a comparative analysis. The sluggish economy adversely affected sales in the marine products segment, as well as the Company's decision to reduce its advertising and attendance at marine trade shows while concentrating on obtaining new mass-retailers for both segments. The limited financial resources available to the Company also adversely affected revenues during the reporting period, as the company was unable to purchase all required raw materials.