Replies to post #75979 on Mike The Pike Productions Inc (MIKP)

[Just1MoreUpTick]

Yes, I agree they listed that amount. Problem is that much cash can't be spread over operational costs, the upcoming trip to AFM, the cost of fighting the downgrade to the GS, AND buying shares...

All IMO but explanations that makes the most sense are almost always the right explanations.

[FiduciaryDuty911]

MIKP has $50k in cash pre-AFM? I didn't know thanks for the info.

[wEaReLeGiOn]

"MIKP actually had quite a bit of cash listed on their recently filed quarterly statement, about $50K"



Actually, Newbauer's financial statement claims "Cash & Cash Equivalents" of $50,340.

"Cash equivalents" are usually preferred shares that show up on a balance sheet shortly before they can be sold for cash. If that's the case, those shares can still be sold but with the same difficulty common stock holders face, therefore they're no longer "cash equivalents" per se.

I doubt Newbauer will be throwing money away for buying back shares in a company that may never trade again. Attorneys need to be paid.

Something to ponder for the 'average down' crowd..