RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Two ThingsFrogzilla wrote: GumShoeMan wrote: Malibu333 wrote: But these are very crooked deals that do not create trust. If ADCO makes 80 million sales but is unable to pay the bills, then the purchase was an economic catastrophe. We will find out on September 22nd.
Excellent post Malibu333. You are the first person to post about that. HLND had $80 million revenues and they can't pay their bills? HLND also had $2,286,000 debt outstanding on the HLND line of credit. We know distributor profit margins are razor thin but HLND profit numbers are a closely guarded secret and we can guess why. HLND was TAAT's largest customer and TAAT's A/R account was equal to 9 months revenues.
The purchase appears to be too low for a profitable company doing $80 million in revenues but a closer look at the numbers pretty much tells us why the purchase price appears low.
I thought months ago that the purchase price was low.
I also thought that the HLND purchase was a big mistake.
The Q3 numbers due for release at the end of this month are going to be ugly and prove that HLND was a mistake In My Opinion.
Time will tell.
Everything in post was thoroughly discussed! Your jumping from one conclusion to another, like a pathological liar. You now nothing about any of the companies involved, this has been proven a thousand times!
If you did some accurate research, not like the research on new CEO, that was 100% wrong, you might get somewhere! For now your just spinning your wheels, and getting nowhere!
First you want TAAT to change the way they do accounting, so you can understand financials, and out the other side of that smug pile hole you say they must use proper accounting standards!
Left right, left right, getting nowhere, and spreading the dumpydoo, because you're to lazy to do proper research. Same old delinquent Daryl, official SH doormat!
Weeeeeeeeeeeee!
Ribbit
Froggy aka Daryl Stoxxman, you are the dumbest poster ever. Everything in my post was NOT thoroughly discussed. Learn to read.
I never commented on the way they do accounting at TAAT. My comment was that executives Setti and Joe did not understand how A/R works and they stated that in a video. Joe was the marketing guy so he might not know accounting but Setti was CEO and should understand A/R.
Setti's explanation was shocking to see from a CEO and would not be allowed under GAAP rules. Setti didn't know the correct explanation so he tried to bluff but some people watching knew his answer was 100% wrong. You still don't know what I am talking about because your reply was also wrong. I must be the only person who noticed Setti didn't understand A/R or he was hiding the truth about the high A/R numbers.
I have a theory about why Setti didn't want to tell the truth about the high N/R but I won't share it with you Froggy because you are such a dork.