NTRZ conference call was something awful
Wednesday, August 15, 2007, 1:31 PM
Stocks by John
Something is very wrong with NTRZ. I unloaded everything at $1.83 and it has continued dropping. I listened to most of the call before the light really switched on and I realized that this whole business was far from kosher.
NTRZ is hiding debt. Worse, it is hiding debt in a company (Vital Living, VTLV) that has close ties to its CEO, Brad Edson.
NTRZ is telling shareholders to wait until Q4. It claims it will be cash flow positive in Q1. This is all bad news. Also, there are a lot of receivables with apparently very little cash received. $5 in a license. No cash sitting there. Worse, $2 in receivable to VTLV, with no cash sitting there. Do the math! $13 million of the quarter, and $7 million of it is absolutely made the fuck up!!! Advertisements
NTRZ is by far my worst fuck up in the stock market. I hope no one took me too seriously as a stock picker, because wow did I fuck up.
It is clear that NTRZ's grand scam was to try to get above $4 and gain Nasdaq listing. Then they would unload shares into the new market, and... well, whatever.
The truth is, the recent bomb has probably saved a lot of their officers from jail time.
The insider buying is obviously part of a further scam. No one in their right mind would have bought into NTRZ knowing what these guys just said on the CC. It is hard to say where the BS stops with NTRZ.
Bad, bad, bad. I fucked up big time.
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