Remember that this company had a ipo on the nasdaq so i think its a little harder to get listed then it is to create a shell company, plus this company would be making the numbers look alot better if they werent a real company. Earrnings werent all that aweful until last quarter, that one was pretty #$%$ cause it droped there whole year profits down to .04 cents. Mostly this was a result of extra head count and a major increase in operating cost. What have really been watching over the last couple of years is the debt and captial ratio. cause it seems to me there really out of money for any large projects. There gonna have to really focus on larger number of small contracts which i think would be good because greater margin on smaller projects but most likely lower revenue. I would be really surpised if you see a stock offering at these levels and i doubt they would try to raise any more cash from selling bonds so it will be real interesting to see how they use there cash from here on out. What i really want to see is a stready stream of small projects fill up the backlog or some kind of majore partnership with larger more capitilized firm. based on asets and future earnings this company has strong potential. so buy before everybody else does
I also think they are in a financial crunch. Not many more project announcements lately. I think they looked at the US stock market as obtaining cheap financing. Now reality has caught up with them.
I lost faith with them when I heard they bid these three turn key waste water jobs in India. This is not hi tech but low tech work with low margin and incredible execution risks. They will loose millions on these jobs. Though I have 2 500 shares still left I am not very hopeful on their future unless they partner up with a foreign firm.