Savvy Trades and Investments

[nelson1234]

NROM, the $1.3 million is actually a 'one time' legal expense, they are basically giving up going suing for some old receivable b/c legal expenses were too high. Without that, NROM would have made .02/share fully taxed. shoulda woulda coulda

"The loss in the three-month period ended September 30, 2018 and net income for the nine-month period reflected the write-off of $1.3 million of receivables of which approximately 70% were legal fees associated with two receivables which had been the subject of court cases pending for over two years. Even though the Company believes those receivables and collection cost may ultimately have been collectable, the Company entered into settlement agreements to stop the cash outlays which would have been required to litigate the claims."

Amazing they spent $910,000 in legal fees to go after what seems to be a $400,000 receivable. Guess they felt the risk in additional legal fees if they lost the case wasnt worth it.