Mamma.com, a Canadian company is benefitting from Mark “blog maverick” Cuban’s largesse. But folks at Barron’s magazine are not too impressed. They point out the company had net in the December quarter, after a loss of $714,338 by discontinued operations, of $85,635. “But it was able to show that princely profit only by virtue of a $295,097 gain on “an unusual line item called ‘recovery of future income taxes.'” Barron’s quotes long time tech watcher, Fred Hickey who writes in the latest edition of his newsletter, The Hi-Tech Strategist.
bq. Google may not have the ‘mother of all search engines’ but it does have the leading Internet search engine. Google is slugging it out with the likes of Yahoo and Microsoft. Mamma has about as much chance succeeding in this space as my kids’ lemonade stand would against Wal-Mart in retailing…..that’s been my story over the last year — a series of missed opportunities to invest in tech companies that probably shouldn’t even be in existence.