Skin and Bones

Skins Inc. is compelling, but without a product for sale (yet), it's hard to jump in with two feet after the stock has nearly tripled in two months.

Word from the WSA trade show in Las Vegas was quiet. Rumors abound about another delay. But regardless of delays, I want to know how a Co with a niche appeal and no clear distribution system will sell a $200 pair of one-of-a-kind shoes.

I appreciate the cultish quality of any cool product. There's true devotion when a product really works well and looks great, which is why I ditched crappy PC laptops in favor of my PowerBook three years ago. But when I think of Crocs and its mass appeal, selling through kiosks (low cost, high returns), and a spectacularly effective distribution system, how can I be optimistic about SKNN.OB?

Time will tell, as always. The stock traded up 1 cent today to $2.06, retreating from a high of $2.12.

Pupule Paul has no Skins.