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Message: Re: You would have thought....
1
May 06, 2009 08:53AM
1
May 06, 2009 09:24AM

Re: You would have thought....

posted on May 06, 2009 03:28PM

Gaiser, the answers are in the financial statements..... or at least the journal entries that make up the financial statements...... and if not there, then the transactions themselves.... at least I hope.... After all it was an audit.....

Riddle me this......

A 50K sq ft building? with a huge interest only mortgage. It cost the Co $500K last year to keep Tom in the temple. What will it cost this year? According to the financials....$3 million. What do you think that building is worth now compared to 18 to 24 months ago when the had someone that wanted to buy it?

How about those payables and current liabilities. $650K in revenues and current liabilities increase $1. 2 million

All of a sudden there is a $537K R&D expense? Where did they get the coin for that? Was that a non cash item..... not for long.....which means all the R&D tax credits from previous years were audited and denied?

Inventory reduced by 547K for sales of for sales of under $700K? Yet Payables increase?

How about those accrued liabilities.....The loan payable by a US subsidiary remains on DYA's books? DYA is the majority owner of the subsidiary? The loan increases by over $660K in one year...... yet interest accrued for 2008 was only $132,474. Sounds like someone from a long long time ago is not the happy camper that was previously suggested.

Foreign exhange loss of $744K plus? Where did that come from?

If you back out the non cash items their burn rate was $270K per month.... $200K per month just counting the bare essentials.......still going hand to mouth.....

Which of course means that the team at the top of the heap (or bottom depending on your view of life) is once again out of wiggle room.

The challenge I submit to management is simple. Call a web conference to go through the financial statements on a line by line basis to let shareholders know what is going on with their investment. Allow Junior and or Tom and or the CFO to take phone in questions with follow ups.

Will it happen...... I doubt it.

So fellow shareholders in this wonderful opportunity.... I am back to the day job as my break is over..... I hope one or more of you take the opportunity to press hard on the financials...... THE ANSWERS TO ALL YOU QUESTIONS ARE THERE.

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