Knight Therapeutics Inc T.GUD

How was this resolved?

[wofats]

Knight believes that the CRA Notice is unfounded and intends to contest vigorously the CRA Notice by filing a notice of objection to start the appeals process. However, there can be no assurance regarding the outcome of the appeals process or when a resolution may be reached. In connection with the appeals process, Knight has made a deposit of $23.3 million to the CRA and will make an estimated deposit of $19.0 million to QRA. Knight has not recorded any tax provision for the Total Tax Liability in its financial statements. Although Knight believes its tax provisions are adequate, the final determination of tax audits and any related disputes could be materially different from historical income tax provisions and accruals. 

[MrMugsy]

Yes - still open and they wouldn't fight it if they didn't think there was a chance to get the money back.  I don't know enough of the details but I'm still hoping to put the $40M+ back in the bank. Just a waiting game for us.

[Spirou25]

Been almost 2.5 years already.

[MrMugsy]

I know ... still showing as outstanding on the financials. Doesn't really surprise me but asking a friend at the CRA what he thinks. See what he might say.

[MrMugsy]

Also asking for confirmation from Knight.

[Benedict16th]

$43 million Will not make a single difference to share price either or for Black Kinight , GBT $400 million deal with no new drugs or profit is making a huge diference 

[wofats]

But with GBTs additional sales, the year total sales should be about $190,000,000? The EPS should be about .31 then. Doesn't that add another $40 million? Surely that might make an analyst  or 2 take notice . Someone is buying the extra volume that is coming for sale. The last day of tax selling was today .So that should be complete. End of the month and year end over the next

[Benedict16th]

You could have one billion Dollars of sales and earn zero, it is all about the margings of profits. Not much profits to be made out of generics these days. It is up to black Kinights to spell it out. Is it not? 

[Snowballgrowth]

  Here we go to the value. It is all about the strategic platform, get growth and free cash flows from operations. I added more today at 5.30-5.32.

[wagyusteak]

don't speak value to him. He doesn't understand that language. Lol

[Snowballgrowth]

I understand his disappointment in GUD. It had been my biggest disappointment for 2020 too. They have to turn the corner soon and growth profitability with or without pandemic. 

[MrMugsy]

Ya - but he isn’t a 20 year old market newbie. He should know better. What looks like disappointment today turns to excitement at some point.  Seen it a hundred times (well, maybe 9 times). I know ... it’s how some people grieve ... but he hasn’t lost anything ... maybe a few hairs ... hahaha! This is when the smart money takes the shares from the lost boys.  That’s all. Eventually we

[Benedict16th]

Black Knight MNGT ae so financially astute, as such they are buying share back because they are low and using cash at hand while at the same time, they propose a shelf PP for $360 million. Really? The market is not so dumb to buy in the sad state of amateur bs

[wagyusteak]

  this dude probably never heard of Henry Singleton. Lolll

[Benedict16th]

Wagy, how many times do I have to congratulate you of having an IQ as high as that of your age? I know..... you are smart. So how much money have you lost so far on black Knights if indeed you own shares? BTW no one has made money on Black Knights for a long time  unless they shorted GUD

[wagyusteak]

  lost? Paper gain/loss doesn't mean anything until you sell it. Down 350k on GUD. It's ok, I made millions somewhere else. So 2020 still a great year. Lol. I don't expect to be right every time. But I know that as long as you still here complaining about your bad decision, I will make money with GUD some day. I bought it for my grandkids.  

[Benedict16th]

Wagy, you just confirmed with your  losses  your investments  smarts. Congrats and happy new Year 

[wagyusteak]

  lolll. Ok. I guess there are things that poor mindset people will never understand...

[MrMugsy]

Wagyu ... I'm more interested in your gains in 5 years than I am in any paper losses.  I wish he had better arguments when it comes to stock picking ... he hasn't a clue. My ATE and PRN paper gains absolutely dwarf my GUD losses yet that tell us nothing about my "real" future gains.  They could go either way.  Paper losses don't stop me from seeing the value

[MrMugsy]

Got one response Spirou25. CRA friend says "totally possible" that we are still waiting for a decision.

[Michel1234]

Concerning the tax litigation. The year-end financial statements are audited by a big accounting firm. Until the amount paid to the tax authorities stay recorded as an account receivable, it should generally mean that the auditor accept the management position that it is more likely than not that Knight will eventually get a refund once the litigation is over.  Michel

[Spirou25]

Reality in sometimes different than that unfortunately. If you are/have been an auditor yourself I am pretty sure you know what I am refering to.

[wagyusteak]

The money is gone, so it's not gonna affect out cash flow in the future if we cannot get the refund. On the other hand, it will be a huge plus if we get that money back. So the risk is none while the upside is big.

[MrMugsy]

Well said ... and the upside is equivalent to 7.5 million shares repurchased for cancellation.  Hahaha !!! Happy New Year !

[Benedict16th]

Is Re-purchasing more shares and doing a new PP  the new strategy of black Knight in 2021? Hm......... in which investement world does this MNGT belong to? 

[Snowballgrowth]

You play a game with some here. Don't you ?

[MrMugsy]

Whatever games he may play ... they're not very good. I don't blame him for being nervous.  That is the situation any new investor in Goodman would find themselves in right now - the doubt and fear over paper losses is a real fear to some.  Others see "Groundhog Day" and it's fun playing the role of Phil Connors.  How often does one really get to do that ? ==

[Benedict16th]

It is not a game, it is reality. Proping up the GUD re-purchasing plan while ignoring the pradox of the recent announced PP is pure MNGT  absurdity.