RE:RE:Y/E 2016
"Accounting is so distorted"
No, accepted accounting practice keeps you guys from distorting...but you keep on trying all the same. Companies filing for bankruptcy are actually doing quite well in your selective "adjusted" world.
Here is a dose of the real world
Sept 30
Tangible Assets $32,958,777
Liabilities $32,697,946
Net Tangible Assets $260,946
Dec 31
Tangible assets $31,388,293
Liabilities $33,733,524
Net Tangible Assets -$2,345,221
So the shareholders now no longer have any tangible equity left in this company and in fact are now over $2 million in the hole. How can that be with all that great positive EBITDA ? Math always taught me that when you add a positive number to a positive number, it becomes a greater magnitude positive number, but apparently not in this case. Why is that? Because anyone that speaks out of their upper orifice know your EBITDA is nothing more than fabricated "Bullshit earnings" selectively created in the land on Nonsense to try to hide from the rube investors the fact that the company is losing money.
Also, "Non cash" items are cash. That expression just means the cash owed was not physically paid out during that period but it is accrued and is in fact an owed real cash item. Example being insurance @ $2,400 per year that is paid annually. You accrue $200 per month, but since it was not physically paid out that month then it is classified as a "non cash item" for that month on your financial ledger..but it is still a $200 debt incurred during that month whether you physically paid it out in that month or not.
Stop trying to game innocent trusting people. This company is losing money, plain and simple and you know it.