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From: Dick Michalak <michalakr@xxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Subject: STKS - Energy Reserve Heading North?
Date: Tuesday, February 24, 1998 11:51 AM
RealTraders Group:
I've been following Energy Reserve, ERES, for a while, after a friend's
broker suggested it.
Recent 10-Q's at their site http://www.cx-en.com/energy.htm indicate
company has $7M assets, $6M equity, $1M liability. Cash on hand is $1M and
$3M more expected from a settlement soon. Accumulated deficit is $13M. For
the most recent quarter, revenue is up to $2M from $1.8M last quarter, and
earnings up to $0.299M from $0.212M which is $0.01 per share. New
management and a new temperature strip product seem headed for success.
Probable $200M in unrealized oil assets!
My question - why is this stock priced so low ($0.65, 20M shares out)!??
With little experience in evaluating penny stocks, I'd like anyone's honest
comments on the RISK in investing in this company. Am I missing something?
What could go wrong?
-- Dick
Dick,
Did you ask what could go wrong? Answer: EVERTHING!
Why would you want to invest a dime in this dog when there are so many fine
companies out there?
If you keep trying to make a killing you are surely going to lose your
butt.
Yankee Trader
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