Whisper from Wall Street Crossing the Line with SUNBELT INTL CORP (PINK:SUNB)
Some people just refuse to learn their lesson and they continue making the same old mistakes again and again. You probably know a person like that and we are certainly familiar with such companies. SUNBELT INTL CORP (PINK:SUNB) is one of them.
Back in November, SUNB was part of a promotional campaign and we saw it and wrote about it. The results of the pump are clearly visible on the chart and we thought that, maybe, they will just leave it there. Why would we think something like that? You can see from our previous articles how dreadful SUNB‘s financials were. You can also see that the last time that they filed any sort of reports, they mentioned that they have had no expenses whatsoever for the quarter that ended in September 2012, which would mean that during these three months they have been sitting idle. Last night, when we received Whisper from Wall Street’s email, we asked ourselves “Can SUNB suddenly wake up from hibernation and start doing something substantial?”
If they are to be believed, yes. Press-releases have been flying out of their HQ and the promotional emails haven’t stopped either. In fact, they are only too happy to compare themselves with giants like Monster Energy Drinks, announce that there are some new products coming up and, most importantly, they tell us that they have registered thousands of sales. The only thing, really bothering us is that they still don’t find it very important to file their reports regularly and they haven’t given us anything since the last time we covered them. Which means that we have no way of knowing if their press-releases have anything to do with the truth. We admit that the news sound good, but especially having in mind their history and their previous filings, without any official documents, we are finding it extremely hard to trust SUNB‘s words.
Even more so when we read through some of the older pieces of news that they have released. In November, they said that they are preparing a new product – a soft drink that will make children go crazy (in the good sense). The product was ready to go into production and it was supposed to hit the market shelves in December 2012. They have obviously failed to meet this deadline, as yesterday they informed us that they have performed some taste tests and the kids absolutely loved it.
Speaking of failures, Whisper from Wall Street’s history is full of them. A company called Neologic Animation Inc (PINK:NANI) is a prime example. Back in December Whisper from Wall Street were not whispering but, rather, shouting out loud that NANI was the next big winner. Looking at the chart to the right, you can quite explicitly see how wrong they were.
It is our firm belief that every publicly traded company should file their statements on time. Why is that? Because normal people invest in this company, which in turn, makes the company go forward. These investors have the right to know what is going on, and news and forward-looking statements just isn’t going to cut it. We should also say that having an up-to-date financial statement in front of us makes our job a whole lot easier.
