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Pro-Dex Inc. Message Board

  • reversesplit reversesplit Dec 7, 2005 2:43 PM Flag

    ETLT - Grayfox

    Grayfox,
    What is it that you like about ETLT. It pretty much looks like a scam to me. They're in default on one of their notes. Last quarter's increase in sales resulted in a huge receivable (one customer, a related customer, maybe questionable chance of collection). Trying to figure out the company's structure is confusing to put it lightly. And to top it off, use of their cash is restricted to investment in China. This is one puppy I would be extremely wary of. Hey, be careful out there.
    RS

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    • Wwhere do you get that exact info concerning the default on a note. They've got 24m in cash. And, again where do you get the info that one customer is all the receivables?
      If you know that, then who is the customer and what are the recievables for? You're getting
      info from a source that I do not see. By the way, Chinese bookkeeping is entirely different from ours. It can almost be almost inscrutable.
      And, i think it's one of the reasons the stock is so underpriced.

      • 1 Reply to grayfox332003
      • Gray,
        The note default is disclosed in their 10-Q filings. The account receivable activity is a red flag warning. The composition of ETLT's receivables is something you might like to question management about. I believe the large receivable was created in the Quarter ended in June, but I'd have to recheck the statements. I looked hard at this company's stock when it was at $0.20 but shied away because I couldn't get comfortable with it.

        I still like PDEX, but I wish management would back off on the overoptimistic forcasts. They've lost alot of their credibility.

        Regards,
        RS

 
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