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American Premium Water Corporation Message Board

  • luana2045 luana2045 Jan 24, 2010 12:41 PM Flag

    Prove it, skeptical here

    Who thinks the following is possible? and if so why are you happy that an entire 3rd quarter earnings are less than 1 months?

    It is hard to believe the November 5th PR, http://finance.yahoo.com/news/Expert-Group-Inc-Releases-3rd-iw-1828520435.html?x=0&.v=1 , was an accident.

    Once Expert had to deal with it they came up with the January 13th PR, http://finance.yahoo.com/news/Expert-Group-Updates-iw-1377447891.html?x=0&.v=1 , "oops we accidentally included June in the numbers"

    If this is true the June 2009 financial that CEO Robert Rico promised to produce on the January 13th conference call will show the following:

    June revenues: $129,264
    June earnings: $102,158

    While the entire 3rd qtr, July, August and September COMBINED had a total of the following:

    3rd qtr revenues: $176,238
    3rd qtr earnings $ 85,034

    http://www.pinksheets.com/otciq/ajax/showFinancialReportById.pdf?id=27820

    Based on 3rd qtr I do not think the excuse that June 2009 was included in the "accidental" numbers November 5th is plausible and this is why it is so important to see this June 2009 financial to reconcie this all together.

    If it reconciles fine, but if not then we have to wonder where the "June was accidentally included" actualy came from.

    In addition to the above, this board was buzzing with the thoughts of a 3rd qtr of $187,000 in earnings and when it was discovered they were really only $85,000 there was no holding anyone accountable.

    Many will argue the earnings are all there but June was at first accidentally included in the first release, granted but from November 5th 2009 to January 8th 2010 we were under the impression the 3rd qtr alone produced $187,000 in profits.

    Here is a simple analogy that might drive the point home for those who still don't understand what happened here:

    Say you get paid every quarter at your job at a rate of $15,000, then suddenly in 1 quarter your pay goes to $25,000, your employer says that the $25,000 were your earnings for the last quarter and looking good for future growth. You are very happy.

    But 6 weeks later your employer finds there was an accounting problem and takes back the $10,000 from you in overpayment.

    Now do you:
    a. get upset because you were told these were your earnings?
    b. say, "oh no problem I understand it was an accounting error" (like those on this board)
    c. demand accountability on this error? (in this case wanting to see the June 2009 financial to confirm what was told us in the January 13th pr) CEO promised to release it on the January 13th CC.

    I will take "c"

    This is a simple analogy of what happened here to shareholders between November 5th 2009 and January 13th 2010 when we were told our earnings at EXPU were significantly lower than what we were first told.

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