RE:RE:RE:RE:RE:RE:Auxin DetonatorsSo Loosey shameless pumper that thou art can you answer the following question yet?
If they are doing so well, where are the dividends?
Oh, I can answer that, they divert much of everything they earn to the high priced lawyer and gave Jim Taylor a big fat raise. Lets rein in this huge legal department Nordex is funding.
Honestly, they made very slightly more than a penny and a half per share ($0.0156) in the first quarter, and we don't even know whether these meager earnings will include significant downward adjustments (such as bad inventory and uncollectible debts). This board has been known to be careless, as for example in note 8 on page 11 of the first quarter financial statements, they list 1,100,000 share options which are priced they say on average of $0.25 each.
What nonsense. There were no options issued at or below $0.25. Who proofread these statements? Whomever he was should be immediately dismissed!
If you look closely you will see that Nordex cash position is falling quickly. Cash outflows from operations was -358,288. Their receivables are growing rapidly 4,159.013 vs 3,267,389 with some getting long in the tooth. Inventory has increased by 1,047,456 from year end. All of these can be danger signs. It is true that Nordex is selling more product, but if it is not collecting on its bills in a timely enough fashion it can have big big problems.
Finally:
What shareholders need to know is this; Are all the Johnex products being sold as they are being produced? These products have some margin built into them. The large inventory build up suggests otherwise. The bulk products though are low margin by comparison.
Where is this build up in inventory going? Is it in preparation for a Butt Buster sales season, or is it unsaleable stock which is sitting around and becoming more useless everyday?
B&D