Friday, October 24, 2014 11:44:32 PM
the way I see it is that in 2nd Q, there were $88,427 inter company transfers on the current liabilities ( I would suspect that to be franchise costs with respect to Encore.)
There were $132,078 in accounts receivables for the 2nd Q ( I would suspect a majority of that is franchise fees from Encore as Apena revenues are not the major source).
Given the difference, there is a net positive to income of $43,651 so in fact, Gross revenues less total expenses would be net positive of $19,124.
Now given, that Encore locations are now going to be directly under SHOM, those inter company transfer fees would be negated and full Encore franchise fees added to gross revenues.
Of course, there will be fixed costs for all the locations, but net net, revenues will be much higher.
Remember, new additions are coming as well....
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