Is this company legit?Has anyone looked at the financials of this company? I just took a view at the Oct 31, 2004 quarterly and noticed:
1. The only reported revenue comes from 'mineral claims' - - I thought this was a wind energy company? They've been around since '98, so how have they not been able to generate ANY real revenues.
2. Legal expenses: 643K; Accounting Expenses: 178K; 'Management Fees': 329K
3. Stock based compensation: $1.5M
Am I the only one who thinks this looks fishy? Looks like management and their professional advisor friends are cashing in. Even if there is something legit going on, the fact that they took 1.5M in stock based comp in the past without creating ANY revenues or income is enough to tell you something about the management.
These are just my thoughts, please don't take them as gospel. But, please, do your homework BEFORE you buy stock in a company.