Board Content Unfortunately, internet Boards, such as this one, are not edited. If a rebuttal to a newspaper article is submitted, a newspaper editor typical confirms the facts. The internet Boards function much like the wild west with no control, thus we are subjected to a barrage of misinformation.
Let's consider some of the facts:
1. AXI is too slow in posting their quarterly financial statements. It is not uncommon in the world of business for quarterly statements to be delayed, but AXI should improve their financial reporting.
2. AXI does have a Chinese joint venture partner. Unfortunately, doing business with the Chinese can frequently be a long, drawn out process.
3. The world economy has been slowing for sometime and an immediate turnaround is not expected anytime soon.
4. As long as the BRIC nations don't stall, the demand for steel should remain relatively strong.
5. AXI has the iron ore.
6. As stated by others posting to this Board, penny stocks are risky, but the reward can be significant.
7. When buying a stock, judging whether to buy or not should be based on the management in place as much as the product/resource.
8. This Board is full of posters who continually question management's ability, but I doubt whether any of them have either the experience or intellect to assume control of AXI.
9. It is time to start using this Board as a source of good, well researched information.