Kingsmen Creatives

[thefarside]

Suddenly, this stock is now a "good buy"..

1) at a price not that far from the 0.75 it was range bound the past few months minus the recent runup
2) after an auditor filed an announcement of potentially serious financial misconduct by some possibly key people in the company
3) with further troubling signs (see settlement date of 10th Jan with subcontractor B - the auditors filed the report next day 11th Jan and they had to call a halt) not fully answered in the press release
4) and an unexplainable delay in putting together the facts of what had actually be an ongoing investigation (E&Y did not just spend 2 days to do this and filed on the 11th)

While a financial loss of this magnitude will hardly dent Kingsmen, considering that their main asset is human capital, how would they be affected if they lose some important people as a result of this crisis? Remember how HP lurched from crisis to crisis with tens of thousands of job losses now after Mark Hurd got booted out for fiddling his expenses...


Just another counterpoint to balance all the bullishness in this thread...