Second Wave Petroleum Inc SCSZF

RE: WHy are we at a 52 W Low?

[vandenp]

I have learned through years of experience with this company that: 1. anything they say over the phone or via email is likely a bold faced lie or a completely uneducated-overly-optimistic opinion. 2. their news releases and business updates have always been overly-optimistic. In fact overly-optimistic is putting this VERY mildly. Their projections have been so off, so many times it is absolutely embarrassing to admit I’ve been such a sucker over the years. The only thing that SCS releases that can be somewhat trusted is their AUDITED financials, which to date have always been incredibly poor. I learned this too late. I knew about #1 years ago but unfortunately I believed their overly-optimistic business update from Oct 28, 2003 and I believed them when they stated they were cash flow positive (https://www.solars.com/Solars.BIZ/newsrelease/jan1404news.html). I will not make this mistake again. I will not likely buy a single share in SCS unless their AUDITED financials DRASTICALLY improve. Live and learn I guess. One of my favourite quotes goes something like this “The smart man is not the one that learns from HIS mistakes, but from the mistakes of others.” Some of us have warned individuals to learn from our SCS mistakes. I still remember trying to warn Spinner7 about the history of this management team. Oh well, hopefully we will all get our money back some day and learn from this SCS experience.