Sort of. YKTG apparently went bankrupt...but there was never an “Account Receivable” booked. There was never any revenue to impair. They say they have a claim to YKTG’s Surety for about $500k-$600k or something but that is it. And it does not appear to be for unpaid bills...there were never any invoices booked. It is for something else.
But this episode is another example of Cellucci’s propensity to exaggerate. A text or email was posted to the board at one point from him suggesting they had made or would be making a claim for soemthing amounting to $6.1 million...
...but when the actual number showed up in the fins subsequently it was about a tenth of that.
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