Second Wave Petroleum Inc SCSZF

RE: 3qrt results

[idleSpeculator]

"Very much so, but I listen to the number crunchers like idle, who tell us when to buy or sell." "Often idle quotes from vandenp's financial concern. I trust these people because they have the higher moral ground and care about" Jet, I haven't told anyone when to buy and sell, and I wouldn't know TA if it bit me! For a psychologist you don't seem to be very good at reading people? As much maths as I do is. 1) Estimate Earnings - (Cost of Sales + Overheads) = Profit/Loss 2) Cash in Bank / Monthly loss = time in months to next required cash injection / big problem. We have past this point already. I have expressed concerns about two things. 1) When SCS claim they will break even imminently, they are forcasting an increase in earnings by a factor of 6 to 10 usually over a period of a couple of months. In the last two years (when these predictions have been made), earnings haven't even doubled. Why would anyone beleive them this time? 2) Calcualting when the money will run out, According to unaudited accounts for August 2001 on Sedar, SCS had $43,000, cash / short term investments down from $1.7m year before. Estimates of current burn are about $700,000 per month. So, how have they paid their bills since then? One way is already clear from the Sedar filing, Liabilities (debts) increased by $440,000 in the year. We all know End of Quarter results are going to be ugly, and are likely to be filed late. The question is can they raise any more cash to keep going, because no matter how good an idea / product they have, if they do not survive long enough to realise it all those NR's Jet loves to re-post aren't worth a jot. enough already Time to go back to being idle again