ATPG Senior 11.875% 2nd Lien Bonds (fka ATPG.GE)

[hgabreal]

Total liabilities went down from 2.9 billion to 2.7 billion. Not much, but look at the assets. Total Assets are the exact same value as the total liabilities right to the last digit. This is fishy accounting.

The "property held for sale" had not been valued and included with the assets before but they value it NOW at 1.8 billion and add it to the assets in June AFTER the 363 sale is finalized??? Seems like they did not want to publicize that value before the auction winner was announced.

Despite the inclusion of the 1.8 billion with the assets, the total assets have become even lower than the liabilities. They must have manipulated the other asset numbers to keep Total Assets lower than Liabilities. If their current assets were > their liabilities, the 363 sale might be halted because the company would be cash positive.

This is my "novice" 2 cents.