Financials delayed. SURPRISE SURPRISE!!!!
Gee, things are so bad that a default was triggered and there was time to get 70% of bond holders together to work out a BK plan, yet nobody wanted to see financials?? LOL
HUSSEY, it doesn't pass the sniff test!!! What does pass the sniff test is that ex-CFO HUSSEY is worried about those questioning the need for bankruptcy. Maybe some cooking of the books going on. Interesting how the international divisions are not going BK. Maybe transfer some of domestic revenue to international or better yet, transfer some expenses (or invent overhead expenses) from international to domestic? Given the lying and misleading of corporate CEOs, would anybody here be surprised if HUSSEY moved a few things around to try and justify the BK? Remember, the lenders and LBO group are the ones that really control HUSSEY. Used to be a CEO that had financial problems and got their company into a mess, would put their tail between their legs, resign and hope nobody remembered them. Different environment today. Screw the shareholder, protect me and the boys is the mantra today!!!
So what happened? Because I don't for one second believe they changed the date to Friday after hours and then yesterday after hours submit the NT 10-Q. The financials would have to have been completed to submit to BK court.
No, I emailed Spectrum and the Atlanta Journal reporter asking queestions about cash flow and expenses and revenue and if any was being shifted. Maybe it sent an alarm to Hussey. Also, maybe somebody filed an objection with the court? I think there is a link on the Spectrum web site that will show court filings. Need to check it Monday. At any rate, somebody was buying shares at end of day on a Friday and that seems like a positive thing to me!!
