Asberry 22 Holdings Inc (ASHI)

[bernardsamuel]

Regarding accounting entries, the excess of the loss on extinguishment of debt over the gain regarding revaluation of derivative liabilities was 221K. This is nonrecurring stuff, so the reported bottom line loss is about one-third less in "real money" (my CPA colleagues would have me shot on sight for writing something like this). I keep on going back to my general theme that this company really doesn't have a lot of debt, and the challenge is that it's short-term rather than long-term.

Also, take a look at that end of year accounts receivable number which is under a thousand dollars. This is really a "cash and carry" business, meaning that they don't need to go more into debt to finance receivables (which don't exist).

More to come...