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ecoblot

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Alias Born 01/14/2005

ecoblot

Re: None

Thursday, 01/11/2007 2:27:58 PM

Thursday, January 11, 2007 2:27:58 PM

Post# of 585
IBIN is my pick.
it is trading at 1.28.To start with its tangible book value is
2.46 and is still profitable. Accounting for reverse split insiders paid around 1.40-1.50. A recent private offering was done at 1.2 to get over their cash crunch.
From their latest 10q
"This 10-QSB was amended to update the additional revenue related from the Industrial Development Corporation changed in percentage of initial recognition. The Company restated its financial statements for the year ended December 31, 2005 in regards to the recognition of revenue for Industrial Development Corporation- South Africa Initiative. Management decided to present recognized revenue for Industrial Development Corporation -South Africa Initiative consistent with the other contracts to make it clearer to its shareholders. An additional $425,000 of revenue was deferred for December 31, 2005. This deferred revenue generated an additional $105,955 for the second quarter" So looks like their revenue in future may increase.
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