Your starting to sound like a basher in hopes of buying it back much lower. You didn't like it when you were long. Be careful please. Think it's important to listen to end of this webcast one more time, to see if anyone else picks up what CEO's comment. I heard something that made my ears perk up...think he hint at something. See if anyone else caught it. The other point....would a suitor have an audit firm look at SUPG books and just possibily catch this error? Far fetch, but possibile. Please listen to ending again and tone on how Manuso made a statement.
This announcement would shake out a cheaper shares for any potential suitor. Manuso has that buyout clause and a suitor would love to accumulate some stock and this would be the ideal way of shaking out some shares. I've seen prior accounting problems and since they have a figure they could easily have set the 970K aside on the statement and made a footnote and explained this discreptancy. This is not the first time this issue has risen....This is to petty to be that large an issue to restate several years numbers. Would be interesting to see how this may have been handled before.
That is very intersting insight billy. What was wierd to me is why something like this in relation to the amount of cash on hand would be even made into an issue to delay earnings. To me it would be a footnote to the earnings announcment but your thought may explain why they delayed this.. Hmmmmmmmmmm
Ceo stated the discovery of this issue was from a planned EXTERNAL audit of subsidary books. Would they not do this at the end of the year and why not done within the past 4 years? Halt there earnings...they know this will be over reacted to....fishy???? The other point since the company has not made a profit in the past 4 years....what's the reason to restate...the company losses cash this year and has to restate privious year effect....what for. absolutely nothing material here, to require. Believe this is smoke and mirrors so a suitor can grab some cheap stock!