Monday, April 23, 2012 1:04:06 PM
That's what I just posted.......brilliantly I might add.
Right now the value is $5MM. If next year the Goodwill value is $0 because Chang forgave the debt, then another charge will hit the books, right? They have to evaluate annually. They compare year over year financials. Next year the "charge off" would have to occur, right? But of course they would have Chang paid off so they wouldn't have to worry about the asset value because they no longer have a note.
I never said they paid a fee.
The actual fee will be paid via paying the NOTE, so they can keep the Goodwill on the books. It's an accounting gimmick, and if Karl had got all those huge projections right, then they wouldn't have been charged anyway. An impairment charge is proof of a bad investment.
Let's hope Kevin is showing Karl........IT'S A PROFIT DEAL!
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