Post by
pennylane101 on Mar 27, 2023 9:20am
Major Investment in Equipment...
For the quarter ended Sept 30, 2022, they indicated in the notes to the financial statements under "Commitments:" "During the quarter, FPLP purchased equipment in the amount of $5,876 ($3,748 USD)" They spent $5.9 million on this and now they've decided not to go ahead with the installation of the equipment? So what do they plan to do with it? When the announcement of the commitment to purchase the equipment came out , it was a bit of a surprise for me. I find it odd.
Comment by
Banacheque on Mar 28, 2023 12:18pm
It would be kind to call this business decision a misstep. The question now becomes how do they mitigate the loss. The equipment will have some value. Will it be 10 cents on the dollar or 80 cents on the dollar. Believe it or not, if/when Bill C-18 is approved, I still think they will do okay. They were set up to do "very" okay until this blunder.
Comment by
Northforce13 on Apr 04, 2023 3:18pm
Nothing odd, management changed, they want from smart, thrify cautious management to ratarded maron want to grow management. Expect more bombs to go off in the future so long as RTG management is there. RTG management will sink this into bankruptcy eventually, after some more ratarded wanna grow decisions.