The Devil's Excrement

Well, the anarchists ended up being the Attorney General´s office and
the intelligence police that did indeed raid the residence of Governor
Lapi (He is still in charge). I wonder what the Governor elect would
say now? Isais Rodriguez is an anarquist? The Minsiter of Defense?
Such a big mouth! These people are so predictable…

Well, the anarchists ended up being the Attorney General´s office and
the intelligence police that did indeed raid the residence of Governor
Lapi (He is still in charge). I wonder what the Governor elect would
say now? Isais Rodriguez is an anarquist? The Minsiter of Defense?
Such a big mouth! These people are so predictable…

All news sources are reporting that the Attroney General’s oofice, the
intelligence police and military intelligence are raiding the home of
ex-Governor of Yaracuy Lapi. Lapi has already conceded defeat, so this
is strange to say the least. The new Governor denies this has
happened, claiming this is information being disseminated to create
anarchy. Let’s wait and see who is the anarquist here…

All news sources are reporting that the Attroney General’s oofice, the
intelligence police and military intelligence are raiding the home of
ex-Governor of Yaracuy Lapi. Lapi has already conceded defeat, so this
is strange to say the least. The new Governor denies this has
happened, claiming this is information being disseminated to create
anarchy. Let’s wait and see who is the anarquist here…

All news sources are reporting that the Attroney General’s oofice, the
intelligence police and military intelligence are raiding the home of
ex-Governor of Yaracuy Lapi. Lapi has already conceded defeat, so this
is strange to say the least. The new Governor denies this has
happened, claiming this is information being disseminated to create
anarchy. Let’s wait and see who is the anarquist here…

All news sources are reporting that the Attroney General’s oofice, the
intelligence police and military intelligence are raiding the home of
ex-Governor of Yaracuy Lapi. Lapi has already conceded defeat, so this
is strange to say the least. The new Governor denies this has
happened, claiming this is information being disseminated to create
anarchy. Let’s wait and see who is the anarquist here…

Cogent Update: A good friend listened to the Cogent conference call
and says this is what was said about the Venezuela contract:

¨During the quarter, we started recognizing revenues from our $54m
Venezuela contract, which contributed to revenue this quarter. In
that, we leased certain equipment for the Chavez referendum on Aug.
15, 2004. We engaged a 3rd party evaluation firm to determine a fair
value for the lease, which was assessed at $7m in this quarter. The
lease was received in revenue this quarter. The remaining $47m of the
remaining contract was pro-rated over the life of the one-year
contract. Currently we are determining the accounting treatment for
the follow-on contract announced last week. ¨

This does not make that much sense to me, since the contract was all
paid in the quarter according to the CNE. Least of all, how anyone
could reach a conclusion that less than a quarter of the revenues are
accounted for in the most important quarter of the contract. This may
all be lock up related since the company went public on Sept. 29th.

Cogent Update: A good friend listened to the Cogent conference call
and says this is what was said about the Venezuela contract:

¨During the quarter, we started recognizing revenues from our $54m
Venezuela contract, which contributed to revenue this quarter. In
that, we leased certain equipment for the Chavez referendum on Aug.
15, 2004. We engaged a 3rd party evaluation firm to determine a fair
value for the lease, which was assessed at $7m in this quarter. The
lease was received in revenue this quarter. The remaining $47m of the
remaining contract was pro-rated over the life of the one-year
contract. Currently we are determining the accounting treatment for
the follow-on contract announced last week. ¨

This does not make that much sense to me, since the contract was all
paid in the quarter according to the CNE. Least of all, how anyone
could reach a conclusion that less than a quarter of the revenues are
accounted for in the most important quarter of the contract. This may
all be lock up related since the company went public on Sept. 29th.

Cogent Update: A good friend listened to the Cogent conference call
and says this is what was said about the Venezuela contract:

¨During the quarter, we started recognizing revenues from our $54m
Venezuela contract, which contributed to revenue this quarter. In
that, we leased certain equipment for the Chavez referendum on Aug.
15, 2004. We engaged a 3rd party evaluation firm to determine a fair
value for the lease, which was assessed at $7m in this quarter. The
lease was received in revenue this quarter. The remaining $47m of the
remaining contract was pro-rated over the life of the one-year
contract. Currently we are determining the accounting treatment for
the follow-on contract announced last week. ¨

This does not make that much sense to me, since the contract was all
paid in the quarter according to the CNE. Least of all, how anyone
could reach a conclusion that less than a quarter of the revenues are
accounted for in the most important quarter of the contract. This may
all be lock up related since the company went public on Sept. 29th.

Cogent Update: A good friend listened to the Cogent conference call
and says this is what was said about the Venezuela contract:

¨During the quarter, we started recognizing revenues from our $54m
Venezuela contract, which contributed to revenue this quarter. In
that, we leased certain equipment for the Chavez referendum on Aug.
15, 2004. We engaged a 3rd party evaluation firm to determine a fair
value for the lease, which was assessed at $7m in this quarter. The
lease was received in revenue this quarter. The remaining $47m of the
remaining contract was pro-rated over the life of the one-year
contract. Currently we are determining the accounting treatment for
the follow-on contract announced last week. ¨

This does not make that much sense to me, since the contract was all
paid in the quarter according to the CNE. Least of all, how anyone
could reach a conclusion that less than a quarter of the revenues are
accounted for in the most important quarter of the contract. This may
all be lock up related since the company went public on Sept. 29th.