Replies to post #107089 on Conversion Solutions Holdings (fka CSHD)

[Fhal or Die trying]

Are we talking investing or accounting. The accouting thing I know since that is how I eat. The investing thing is a game that I make money at.


You said the Financail were wrong and I am telling you they are not. The accounting is proper from the information we have.

[CHUNKY44]

Downwithpumpers, they are carrying the bonds at fmv. GAAP will let you do that if they classify the debt instruments as "Available-for-sale securities. Additionally, the unrealized gains should not be shown on the Income Statement, but booked as Other Comprehensive Income. See the equity section of the 6/30/06 statements.

However, the company fails to adequately disclose the components of Other Comprehensive Income, instead, this is their entire disclosure from the 8Ka: The total Accumulated Other Comprehensive Income amount is computed based on the total assets plus net income amount less liabilities for the period ending June 30, 2006.

So you see, contrary to what some posters claim, the company unequivocally claims that they have "full ownership" of the $500 million bond, and what's more, they claim they acquired it for absolutely nothing. That's why Rufus and Sabra get the big bucks!