Bajadude:

Keep in mind the Fountain is a low volume stock trading an average of just over 12,000 shares per day. If a person with some serious money decided to play this stock the volume probably would not support large trades, either up or down. You are right about the large swings but I suspect you could only catch those swings with relatively small trades.

TulsaLarry,

Of course your right. I can't imagine what the bid / ask spread on something like that has been.

i'm not an accountant, what is an imparment charge?

It happens when an asset, (like goodwill) turns out to be less that its book value. The impairment charge reflects the difference.
Some times it relates to plant and equipment

In this case, not sure what it is, but the 10K says "after additional expense of $1,182,320 for impairment of long-lived
assets in Fiscal 2002."

Basically something is no longer worth what they previoulsy said it was.

the 10k is vague....won't go into what the writedown was from. There probably isn't much stock out there to borrow, but with those financials tied with the current economy...what a short opportunity;)

maybe left overs from 2001????

The impairment charge came from molds and race boats:

During Fiscal 2002, the Company
recorded a loss on impairment of $1,112,320 in accordance with SFAS No.
121 "Accounting for Impairment of Long-Lived Assets and Long-Lived
Assets to be Disposed of" on certain molds and racing boats to adjust
the respective assets to their net realizable value.

Ooops....I thought that said Fountain Earings.....thought Reggie had come out of the closet. By the 10k though, maybe he should hide in one for a while....

thanks guys, i'm smarter today than yesterday!!!!

The Key Data IMO.


Current Assets: $26,534,696

Total Liabilities: $22,565,994

Net Sales: $37,546,692
Cost Of Sales: $35,990,833

Net Income (Loss) $ (7,031,593)




Jan