Tuesday, November 20, 2007 11:44:33 AM
Looks like a 4th quarter paper profit is in the works thanks to the 600K+ fee forgiveness by Laurus.
Is the accounting method which Thinkpath uses to show large positive EBITDA numbers sound? They call the fees and penalties "interest" which doesn't influence EBITDA. But when those same amounts are forgiven they aren't a reduction in interest but are a reduction in general expenses which improves EBITDA.
So, as it looks to me, if someone charged Thinkpath a $2 million fee in January and forgave the fee in December, Thinkpath would show a 2 million dollar positive EBITDA result when in reality nothing was gained or lost.
Sounds like THPHF has created a perpetual EBITDA building machine, can they patent it?
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