Adultshop stocks down

[Opti]

AdultShop.com gets whipped
15/09/03 By: Sarah Richards

AdultShop.com Limited (ASC) today posted a net loss of $9.5 million for FY03 compared with a $4.1 million profit in the prior year. The provider of adult products and services highlighted the inclusion of a $7.38 million write-off of goodwill at its online erotic entertainment division.

http://www.ozestock.com.au/MessageView.asp...1452&Symbol=ASC (http://www.ozestock.com.au/MessageView.asp?PostID=271452&Symbol=ASC)


The share price had actually increased by 50% in a few weeks leading up this announcement.. was hoping they had good news coming for once.. *sigh* chart (http://asx.com.au/asx/research/chartsSearch.jsp?searchBy=asxCode&asxCode=ASC&TimeFrame=D)

[cj]

As much as i'd like to take credit for last years $4.1M profit and this years $9M loss, i can't!! LOL

Unfortunately porn and shareholders don't go well together ... the adult internet market, especially in the last 12 months, is too volatile for the stock market and investors to understand and therefore support.

Hell, we don't even understand ourselves where the biz is going!

I have faith that the company has many more years left in them, as soon as they find their footing in the new marketplace - they are in a better position than most of us to make a fresh start with quality products - curious to see what they are up to.

Sorry to the non australians who have no idea who adultshop is! :biglaugh:

[MandyD]

The general public has never really had good grasp on the Adult Industry in Australia. I've been part of it since 1992 and it's always been misunderstood. As most people on the board would know, the Adult Industry is one of the most profitable industries on the planet.

AdultShop.com currently has around $13 million in the bank and their operating profit for year ending June 03 was $4.46 million - that really doesn't sound like a company in trouble to me ;) I think you'll find, last years lost was mostly the writing off of good will for one of their previous purchases - AdultShop.com is still VERY VERY strong :)

AdultShop.com is profitable and is constantly adding to it's cash reserves!!!

[Opti]

Originally posted by cj@Sep 16 2003, 10:56 AM
I have faith that the company has many more years left in them, as soon as they find their footing in the new marketplace - they are in a better position than most of us to make a fresh start with quality products - curious to see what they are up to.

So do I Cj... I offered to buy out a friends position in ASC recently.. but when I did they suddenly stopped whining and decided they wanted to hold onto it a bit longer too :biglaugh:

That side comment about Cj wasn't aimed at you in any way Mandy.. I should have thought about you before I added that.. You are one of the most professional, friendly and efficient company reps I have ever dealt with.... Cj already knew how good I can be at kicking the back of my throat like this.. I did it in a much worse way to her the first time we met if thats any consolation!

And.. everyone should promote Sexhit.. (and buy some ASC shares.. we could start a run if we try!) :P