L Worldwide Desktops, Inc. is a publicly traded company on the pink sheets less than inventory image LITL. In accordance to a latest press launch, the business types, manufactures, marketplaces and distributes significant-efficiency, opulent Computer system/Windows© laptop, desktop, workstation and server computer systems.
Even further, the corporation states it also provides the greatest and most impressive private & skilled visible shows as effectively as ultra-large performance application, peripherals, and personal electronics systems.
They claim to be the “absolute and no-contest greatest general performance/higher-class components alternatives
supplier, at any presented rate level”. Could they could be the upcoming Dell?
On August 10th, 2006 the stock of L Global Computers, Inc. closed at $.29 with no volume. On August 31st, 2006 the inventory traded as higher as $1.85 and closed at $1.40 on extra than 10 million shares.
Why all the trader exhilaration?
a) A press release issued on September 1, 2006 announces its following-technology PuRam-Go™/PuRaid™ Extremely-Transportable Significant-Speed Strong State Push Technological know-how.
b) A press launch issued on August 30, 2006 announces the Metropolis as the World’s To start with 19 Notebook Laptop or computer That includes Nvidia’s Quad-SLI Technological know-how Significant-End Graphics, Gaming and Professional Visible Computing to Be Freed from the Desktop Box.
c) A press launch issued on August 23, 2006 announced that L Intercontinental Indicators $45m European Distribution Arrangement Breakthrough Deal Solidifies Corporate World wide Promoting and Product sales Techniques.
Great push releases, but is there any substance? Maybe investors should be concentrated on the subsequent objects:
a) In accordance to a variety of trade journals and articles or blog posts, the business originally launched its systems in 2003. We have been unable to uncover any financial statements indicating their revenue, income or losses since that time. The enterprise states it will launch financial statements someday for the duration of the up coming couple of months. As a pink sheet corporation, they are underneath no obligation to offer traders with up to date or accurate information.
b) In an short article printed on October 14, 2004, the enterprise was quoted as declaring: “We are no extended in a situation, from a economic standpoint, to continue accomplishing enterprise and are regrettably pressured to suspend our operations and liquidate our assets in guidance of our economic duties.”
c) In a get in touch with designed to the company before these days, the organization acknowledged that it had shut promoting down about 8 months in the past due to engineering updates and strategies to re-open in about 3 to 4 months.
d) Who is Microscan Intercontinental? They allegedly put a $45 million buy to purchase product or service from L Intercontinental. On the other hand, a brief google.com look for yields definitely absolutely nothing about them, not even a web site.
e) When the firm states that it manufactures its very own technologies with personnel functioning from its corporate headquarters, it seems that the tackle of document is in simple fact a mail box at The UPS Retail store in Santa Barbara, California.
f) The stock of L Intercontinental Desktops, Inc is traded on the Pink Sheets and has been actively promoted by way of stock spam. Interestingly, a concept posted by Pink Sheets LLC on PinkSheets.com signifies that they have removed stock rates from their site until the firm can make current data available to the investing neighborhood. Moreover, they advise that investors use treatment and because of diligence in their expenditure choices as corporations that engage in promotional actions with out supplying sufficient existing information are frequently the matter of fraudulent exercise.
The firm reviews there are around 100 million shares outstanding. Is this organization worth $150 million? Investors beware.