RE:RE:RE:RE:RE:If...
Really? There isn't a jr. resouce co. that I haven't seen cautionary or going concern statements in their financials or MD&A. That pretty much covers most of the venture exchange. I'm pretty sure most cos. that rely on financings have similar statements. In fact I've seen it so much that I thought it was regulatory.
As far as your margin statements. I don't think you can consider margins without volume of sales. There are many low margin cos. due to the industry, competition, etc. that are quite successful because of the volume of sales/revenue that they have.
UG's original statements were that you can't soley look at past earnings without forward projections as well. Otherwise investors would get burned on cyclicals simply looking at past earnings without considering what stage the cycle/market is in. Makes sense to me. I'm not sure of the reasoning for the condescending or snide remarks. But then I've made some $$$ off her on NCI after she blogged about it when it was 0.06. So I maybe a bit biased.
Now with NCI, we've got it all. The co. reported 0.04 eps for 6 mths so far this year when it made 0.03 for all fiscal 2012. With the recent contract announcement I believe we're now up to $12-$13 million in contracts for the year, more than double all of last year. So it's quite easy to project at least a doubling of those past 6 mth earnings for all of 2013. Using a conservative multiple of 10 x eps implies a much higher sp in keeping with industry standards. It may take some patience but I feel the market will definitely take notice once future financials are released if not sooner when more contracts are announced.