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Onteco Corp. Message Board

  • meanscreen2000 meanscreen2000 Jan 3, 2002 10:14 AM Flag

    Manage10

    I disagree about the pre-announcing.
    They would wait till about 2 weeks before report is due. Though I don't see a warning at all on the horizon, something is making this heavier than normal volume happen, and its to the sell side, a bad omen.
    Your other points are factual and refreshing.
    I hate most boards....

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    • Manage10...my apologies for any misinterpretation of your comments...let's sit back and enjoy the ride.

    • Actually, I think I'm right on the pre-announcing. The company pre-announced a couple weeks ago that it was going to make it's 4th quarter...but that was before the end of the quarter. If the quarter had blown up afterward and they made this positive announcement without backing off on their announcement two weeks ago they'd expose themselves to some serious shareholder liability.

      So, I'd say that making an announcement today without backing off their positive pre-announce is an endorsement of that pre-announcement a couple weeks ago.

    • You need to do a little more research before speculating on pre-announcements. The company "pre-announced" on December 20 that it will meet or exceed previous guidance for the 4th quarter.

      I also suspect that with Home Depot, Staples, and other recent announcements the company will have a very good 2002. As for the announcement today, essentially the company gets to reverse A $1 million charge it took earlier this year to offset warrant agreement. Bottom line, it does not have to pay out $1 million it thought it might have to. And as for the warrants, I suspect a fair amount of them were converted and sold last quarter to try to keep the stock under $3. Do a little DD and you'll understand why.