Thursday, November 08, 2018 9:11:37 PM
I strongly believe their accountants are at risk of being sued for not reducing goodwill at all... there have been definite impairments related to declining cash flows and to apply a test such as estimating future cash flows discounted to net present value- in the face of huge and continuing drops in sales- would reveal that maintaining no reduction in goodwill and a moderate decline in intangible assets is a sham. Simply put, both of these, in light of quarter after quarter of repeated losses, are vastly overstated.
But this point is absolutely true... very sad but true:
"those who were in a frame of mind to have believed in the get rich quick pitch, they probably would have lost it all another pitch even if they didn't fall for this one. That's about the best spin I can put on it."
PS- I better put my disclaimer in here... all in my uneducated opinion!
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