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Universal Security Instruments Inc. Message Board

dragonkrys 1 post  |  Last Activity: Aug 8, 2014 11:16 AM Member since: Aug 7, 2002
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    No one else here?

    by david.wiggins Aug 7, 2014 8:57 AM
    dragonkrys dragonkrys Aug 8, 2014 11:16 AM Flag

    I got out in June after the accounting restatement. I felt uneasy about a company with 335k in quarterly revenues incorrectly stating a $603 royalty payment as $120,000. As for the dilution, I wouldn't worry about Yorkmont flipping those shares at 40 cents -- I believe they're a bit more long-term oriented. Still, I agree with you that this is likely rangebound for some time to come -- $0.35 to $0.51 looks like support and resistance. It baffles me that management would even bother to pay for a one-sentence PR that doesn't even explain the rationale for the placement.

UUU
5.60+0.14(+2.56%)Oct 17 4:00 PMEDT

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