Hello, old mailbag. What do you have for me today? Why, it's an old teaser brochure from Carpenter Global Stock Advisory for something that used to be called Brand Neue (BRNZ). It changed its name earlier this year to Culture Medium Holdings (CLTRE). What's in a name? Nothing, compared to what's in financial statements.
Checking Culture Medium's corporate website today reveals a domain placeholder page. Uh-oh. We'd be better off checking Brand Neue's old site, now re-branded for Culture Medium. Wow, these guys changed their name months ago and can't even do a proper domain migration. The 10-K report for August 2011 is a wonderful read. It says that their LED subsidiary had no sales and was discontinued. That LED project was the main reason for Carpenter's glowing praise. This company started life as a natural resource company and is now doing . . . well, not much of anything. The stock trades at $0.03.
Andy Carpenter, I advise you not to send your resume to Alfidi Capital.
Full disclosure: No position in BRNZ or CLTRE, ever.
Checking Culture Medium's corporate website today reveals a domain placeholder page. Uh-oh. We'd be better off checking Brand Neue's old site, now re-branded for Culture Medium. Wow, these guys changed their name months ago and can't even do a proper domain migration. The 10-K report for August 2011 is a wonderful read. It says that their LED subsidiary had no sales and was discontinued. That LED project was the main reason for Carpenter's glowing praise. This company started life as a natural resource company and is now doing . . . well, not much of anything. The stock trades at $0.03.
Andy Carpenter, I advise you not to send your resume to Alfidi Capital.
Full disclosure: No position in BRNZ or CLTRE, ever.
