I believe i did my research on this stock, however research can not detect a second downgrade in earnings. NHL used the word "conservative" on the first downgrade of $4.5-$5 million profit, the new revision 6 weeks later was half of that projection.
I took the time to speak with their accountant on 3 occasions and he gave me the impression that things were back on track, clearly that was not the case. This stock reminds me of what happened to globe GLB I almost bought some stock at around 50c when I read the new Ceo's address to the shareholders, but I decided not to because the business was too complex.....in both cases the company's released incorrect and false revisions.
If any lesson is to be learned fron this, it is two fold:
(1) Dont buy into downward trending stocks. (2) No amount of research can detect dishonest or over optomistic profit forecasts. You should only buy on the actual figures released because company projections can be way off target.
Pretty expensive way to learn a lesson, but one I wont forget.....lol.
