Mathmatical proof VELTI PLC will stab itself even with favorable court ruling!
Revenue: Year Ended December 31,
2012 in thousands
Europe:
United Kingdom $ 74,731 27.6 %
All other European countries 97,799 36.2 %
Total Europe 172,530 63.8 %
Americas 63,597 23.5 %
Asia/Africa 34,217 12.7 %
Total revenue $ 270,344 100.0 %
From this, we see that 110MM of 270MM was written off. To be conservative, we can spread the writeoff equally in all areas. So we are down to 160MM revenue, or similar as in 2011.
UK being 74MM, Americas being 63MM, we can say 50MM of it being US, and 34MM Asia/Africa, we can say 27MM safely was India. We are at 74+50+27 for the saleable pieces bringing in 151MM in revenue of the 160MM total. That leaves 9MM in revenue for the garbage regions.
More proof? We can use Q1 2013 statistics:
Western Europe $ 14,938 36 %
All other European countries 4,761 12 %
Total Europe 19,699 48 %
Americas 11,848 29 %
Asia/Africa 9,46 23 %
Total revenue $ 41,007 100 %
Even with ZERO writedown, Western Europe is sold, so 15MM of the 41MM, 90% of Americas , so 10MM , and 80% of Asia/Africa belonging to India, or 8MM. So 33MM of the 41MM and that DOESNT include NETHERLANDS or FUTURE FRAUD WRITEDOWNS!
Add to the fact they have "divested from Greece" and you are left with a company of 375, 300 of which are in Greece "helping" VELTI PLC and the sold part. No revenue there since its R&D now. Good luck sustaining a business so spread out with the majority of your workforce in an area the CEO claimed to divest from!
HLIN, dont even try to refute this, you have nothing substantial to say
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