Integrity Gaming Corp. V.IGAM

He is still talking down to you?

[Teflon2Hype]

As I spoke of many times and have quote from financial gurus many times, EBITDA equates to "bullshit earning", so why does he continue to do it?

Is it because he does not know what the interest charges are? He most certainly does because it is a fixed amount and would be known before the quarter even ended.

Is it because he does not know what the D&A is?  Again, he most certainly does because it is a fixed amount and would be known before the quarter even ended.

Is it because EBITDA is unrecognized by GAAP and IFRS and therefore can be any financially abusive and misleading tool that you wish it to be?...I think that is it.

"Earnings" means what is left after everything is paid, therefore the words "Earnings Before" is in itself is an oxymoron. Earnings before interest, tax, depreciation, amoritization,stock based compensation, unrealized foreign exchange, impairment of loans receivable, gain/loss on settlement of loans payable, gain/loss on disposal of assets, and non-recurring costs, finance lease receivable reduction, and its 50% share of the income/expense and gain/loss categories from the Company's income from equity accounted investees....Yes, it most definitely is what  Mr. Munger called it, "Bullshit Earnings" and only flies with those that do not know any better, which to me seems to be his ideal investor base.


NonIFRS Measures – Poydras Gaming Finance Corp.:
Adjusted EBITDA is a financial measure that does not have a standardized meaning under IFRS.  Adjusted EBITDA is defined as earnings before financing costs, income taxes, depreciation, amortization, stock based compensation, unrealized foreign exchange, impairment of loans receivable, gain/loss on settlement of loans payable, gain/loss on disposal of assets, and non-recurring costs. In addition, to arrive at adjusted EBITDA, the Company is adjusting its earnings for finance lease receivable reduction and its 50% share of the above mentioned income/expense and gain/loss categories that are included in the Company's income from equity accounted investees.  The Company believes that to measure the Company's core business performance and liquidity, and to measure its ability to purchase additional machines, it is important to include these adjustments in determination of adjusted EBITDA.

[Riverfolk]

I understand what you are saying and I imagine most do. Poydras released these revenue and EBITDA numbers early becuase they audited numbers wont be out till end of april. The numbers they released look really good IMHO.  The ebitda will start looking alot clearer when refinancing accurs after Q4 numbers.  Are you a shareholder, a trader or a vexed employee? i would just like to know

[Art35]

He most likely sold everything at 4 cents. This is why :)

[SilverSaver333]

I would usually agree that it is just bashing, especially considering PYD has almost doubled YTD. But Teflon has a really good point. I would have preferred Macy included the estimated Earnings Per Share on the news release. Since we don't know what the expenses were last quarter. There is no way to know if it will be a profitable Q4 2015, even though the revenue increased. So including an EPS

[Teflon2Hype]

"Are you a shareholder, a trader or a vexed employee? i would just like to know the background in which your hatred for this play comes from." I am a trader of anything tradable but with that said I will not ever consider  "Investing" in any shape or form in any person or company that can not speak straight to me. There is a reason why people will not speak straight to

[VPofFNE]

Teflon2Hype, I don't agree with your statement about " If you know the unaudited EBITDA, then you also know the unaudited Earnings". Considering the recent acquisitions, and the sizeable intangible assets on the balance sheet, they may not have the amortization portion of this completely worked out yet as often they require extended earnings to draw a conclusion. If I were

[SilverSaver333]

Ok. So you're saying the accountants of the company need even more time to figure out the estimated Earnings. (Because 2 1/2 months is to soon. Lol) Yet a knowledgeable investor should be able to work out the quarterly expenses for themselves. And if they can't do this, they are incapable and should follow an advisor? I'd personally love to see what the average investment advisor

[Riverfolk]

You simply cant disclose any numbers you want to the market, the revenues and EBITDA  must have been disclosed by the Auditing firm. When the entire year end audit is done, we will see the EPS. This isnt hard to understand, if they could have released EPS then they would have just released the Q4. Teflon has only come on this board to bash , from day one. Considering that the EPS factors in

[Teflon2Hype]

"then they've given you most of the input to figure out earnings range on your own." Yes, with all variables being treated equally I would estimate the bottom line loss for Q4 at $1,100,000. Of course the variables leave that open to error but given the framework of what I have to work with, that is the best estimate that I can come up with at the present time. It would have been

[VPofFNE]

I hope you're not refering to me being the one making this personal Teflon2Hype as none of this is personal to me at all.  Since you are a seasoned institutional investor & real estate developer you should completely understand the relevance of EBITDA as a measure of Operating Earnings. I'm not saying that it is a replacement for Net Income, but it is extremely useful in

[RegularJoe]

Let's the guys bash away! I want to get more at .04! Q4 then Q1 and some machine placements... I love when bashers say they are professionals and yet waste their time bashing on the bullboards when it doesn't effect them. Give me a break!  Macy's statement sounded pretty confident on placements to come!

[SilverSaver333]

Very true. Macy made it sound like expansions were just around the corner. Hopefully you are able to get some more at 4 cents, but Macy may have ruined it for us with this news release. Lol

[biggerr]

good job, I'll take $850,000 profit any time, as long as PYD makes profit investors will be happy and SP will rally back to 2014 levels IMHO

[biggerr]

that's what I was saying yesterday albeit less eloquently, we need to know all these things before we start celebrating