Re: Here's the bad news.
in response to
by
posted on
Sep 30, 2008 01:23PM
This is from Bellwether's site. They interviewed an "analyst" from Wall Street Strategies....a company that they have advertising for all over their site.
If you take a look at Wall Street Strategies site... http://www.wstreet.com/default.asp I can't see that they've even done a research report on PTSC.
All crap if you ask me.
Today we had a conversation with Carlos Guillen of Wall Street Strategies to ask his professional opinion on Patriot Scientific Corp. (OTCBB:PTSC).
This conversation was conducted on June 16th 2008.
Q: What’s your take on Patriot Scientific Corp.?
A: hares of Patriot Scientific Corp. finished the trading day down 3.92%, continuing its strong down momentum. We are taking a negative stance on shares of this company since we are seeing a lot of volatility in the company’s yearly revenues.
Q: Can you give us an overview of its financial health?
A: In 2006 the company delivered revenue of $10.3 million and in 2007 it posted revenue of $369 thousand. We are not comfortable with this level of risk to revenues, causing operating income to plummet from a gain of $3.91 million in 2006 to a loss of $14.7 million in 2007. On the positive side the company maintains a strong balance sheet with cash and cash equivalents of $21.7 million and no debt.
Q: What’s your technical analysis of the stock?
A: From a technical perspective, we are seeing a strong downtrend supported by fairly high volumes, although the stock appears to be oversold.
Q: Based on this, what would you tell investors looking to position themselves in this stock?
A: Nonetheless, we rather err on the side of caution and advice investors to stay on the sidelines in reference to these shares of PTCS.