RE: Looks bad on the surfaceThis statement says it all.Should see record earnings for the rest of the year.JMHO.
"Augen's greater focus on the expansion of the merchant banking portfolio continued in the first quarter. Realized gains were less when compared to the same quarter last year but the merchant banking portfolio continues to have substantial unrealized gains which will positively impact cash flow as the investment positions are strategically disposed in due course. The Managed Products segment completed the final close of the LP2007 offering of $12 million in the second quarter, making it the most successful limited partnership offering in Augen's history, and this, despite the weaker demand for flow through product in the first half of the year," said J. David Mason, Chairman of Augen.
Also insider has been buying a few weeks before at $.51 !!
May 01/07 May 01/07 Slavens, Eric W. Direct Ownership Common Shares 10 - Acquisition in the public market 50,000 $0.510