Interest to see how a company's spin doctor can frame a press release to give the impression they want.
WEB's announcement of their October sales number comes with the proclamation:
"This represents an increase in October 2002 of nearly 65% and follows our first quarter ended 30th September 2002, which totalled $5.1 million, up from $2.3 million the same quarter last year."
Reality is that in October 2001 WEB were basically still in a start-up mode - hence comparison's to such a period are essentially meaningless.
Stated more honestly would be that monthly sales for the last 7 months are STATIC - at around $1.7-$1.8 mio per month.
Based on current performance and expenditure that gives WEB just over 6 months of cash left.
WEB Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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