The main thing I think is to look at their debt and their
revenues, it is almost impossible to follow the cash through
the SEC filings,
Take WLSI they had no revenues after 2006, but they did
such a good job about false advertising they made their
income projections seem a little possible, but for 2011 it
was suppose to be 130 million and they had none, pure
fraud, nothing less,
WLSI borrowed over 12 million, but they used convertible notes
so their debt was over 57 million, they had no intention of
ever paying these notes, so they did not care what the conversion
debt would be,
if you ever seen convertible stock, that pretty means they
can't borrow any money any other way,
Hope this helps a little,
Ed