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ZAP! 2007 Financial Results

Discussion in 'Off Topic' started by Kardax, Apr 15, 2008.

  1. Kardax

    Kardax Member

    Joined:
    Jun 8, 2007
    Messages:
    258
    Location:
    Minnesota, USA
    http://www.sec.gov/Archives/edgar/data/1024628/000107261308000924/form10-ksb_15793.txt

    My favorite parts:

    Net sales = $5.7 million
    Stock-based employee compensation = $17.3 million

    Current Share price = $0.41
    2007 loss per share = $0.59

    Other sources indicate that ZAP's CEO Steve Schneider and board member Gary Starr are able to issue stock to themselves basically at any time; so the stock-based-employee-compensation number can give you an idea about how much they're paying themselves.

    It amazes me that these guys are still in business. All they do is issue stock, pump it up with press releases, and channel the revenue to the company's board. Oh, and sell a few tweaked golf carts so they seem "real"...

    -Ryan
     
  2. Cobos

    Cobos S60 owner since 2013

    Joined:
    Jun 22, 2007
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    Location:
    Oslo, Norway
    Don't get me wrong I detest what ZAP is doing to the EV business, but 5,7 mill isn't small change. That's an awful many golf carts ? What are they making that relatively high amount of money on ?

    Cobos
     
  3. Kardax

    Kardax Member

    Joined:
    Jun 8, 2007
    Messages:
    258
    Location:
    Minnesota, USA
    The $5.7 million isn't just golf carts; I actually think their "Recharge-It-All" product line (battery expansions for iPods, etc) is making more money. They also own a used car dealership.

    Nothing jumped out at me as a totally clear indicator of Xebra sales, but my guess is they're in the 100-200 range.

    I wouldn't be so alarmed if it was just the $5.7 million in sales. By itself, that's ok. Rather, it's the $25 million in "general and administrative" expenses that's scary. If that doesn't scream "corrupt leadership!", I don't know what does...

    -Ryan
     

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