great balls of fire

Has anyone had the chance to read the riveting article on the effervescent Icon Energy company website by our glorious leader, Raymondo James?

Its a stunner and clearly positions Icon Energy at the forefront of cutting edge creative accounting.

In the article Raymondo James pats himself on his back because Icon has achieved revenue in 2008 of $3 million. I rubbed my eyes and reminded myself that I really should go and get my eyes checked,but when I looked again, sure enough it says revenue of $3 million.

Now call me old fashioned but I went and looked up Icon's quarterly return to 31 December 2008 lodged with ASX. Imagine my disappointment when the return shows revenue for 2008 of precisely ZERO.

There I was thinking that the old boys down at Robina had finally stirred themselves, strapped up their thighs and gone out and made a sale. It doesn't matter what they had sold, just that they had done something.

But no such luck. I'm afraid we can only congratulate the other Ray, McNamara, erstwhile Professor of Accounting on either another stuff up or a fiendishly clever ploy.

Share price dropping again I see. Every time Raymondo does something the price drops.

The market is always right

23 Feb cannot come fast enough.