Fortress Financial Group fka FFGO

[WhatDoesItAllMean]

"If I remember correctly FFGO has written off all their investment in HGLC. Why would they do that unless they needed the write off to offset income."

According to Generally Accepted Accounting Principles (GAAP) a writeoff has to occur if it is material and the company learns of its dimunition of value. It is the lower of cost or market value. For more detail search under GAAP.