Thursday, February 14, 2013 10:12:04 PM
I am hoping it is audited in support of the company's 'upgraded listing' initiative -- in which case they will have to deal with ice cream costs as well as store closing costs (absorbing costs of canceled real estate leases and undepreciated building improvements).
Similarly, how will they deal with undepreciated equipment -- might hope to deploy, but with no stores opened in almost eight months, and no cash on hand, might be a 'tough sell' for the auditors. At the very least, I expect they will have Q4 equipment depreciation expense not covered by revenue.
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