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Continued: Schafer: Companies can do better than 'going dark'

  • Article by: LEE SCHAFER , Star Tribune
  • Last update: November 2, 2013 - 4:57 PM

Going dark clear­ly can make that a lot worse.

There are dark com­panies that do try to inform holders. Mark Thom­as, the CEO of HEI Inc. of Vic­to­ri­a, sev­er­al times re­ferred to HEI as “pub­lic” in a brief con­ver­sa­tion, even though it went dark at the end of 2007. That’s be­cause HEI puts audit­ed fi­nan­cial state­ments and quarterly an­nounce­ments of re­sults on its website.

Delphax Technologies, a Bloomington-based pro­duc­er of print­ers and sup­plies that went dark in late 2008, has a dif­fer­ent ap­proach. Back when I was work­ing with Delphax 12 years ago, in­for­ma­tion was read­i­ly avail­able, but in check­ing last week, it looked like the most-re­cent fi­nan­cial news is just a summary with no balance sheet information — from the September 2011 fiscal year.

That did not stop shares of Delphax stock from chan­ging hands last week, last at 45 cents each.

What that last trade was based on is an­y­one’s guess, but the good news is that the prob­lem of unequal information probably wasn’t an is­sue.

With both sides in the dark, nei­ther one may have had any i­de­a what was going on. • 612-673-4302

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