Iwantmoney, about your thoughts...
Respectfully, I do hope you are wrong although I do see how you are looking at things. I did take how you are looking at things under consideration which was how I viewed things initially. The logic I gathered from the $7.8 million in Debt Forgiveness was that it had to be applied to a fixed variable with that fixed variable being “Expenses” as how it was indicated within the 10K.
I think the way you are looking at the $7.8 million in Debt Forgiveness is as if it was applied to the variable of Income (or the total figure). I was initially too which might be the correct way for interpreting. Since Revenues minus Expenses equates to Income, I saw the $7.8 million Debt Forgiveness as being only directly relational to Expenses, but indirectly relational to Revenues.
Since the $7.8 million was to be logged under Expenses and since “Expenses” is one of the variables to derive Income, it has to be non-inclusive with the variable of Revenues. I could no doubt be looking at this wrong as would be revealed in the upcoming 10Q. That’s kind of why I mentioned that "even if I was half correct" of the .47 per share figure I posted to have a more conservative view.
My initial thoughts were from page 28 within their 10K where the $7.8 Debt Forgiveness is reflected under the overall section of Expenses in direct proportion. The Revenues listed in the section above the Expenses listed Revenues as $8,532,953. I was banking that they will make at least that same amount of Revenues with the $950,000 per quarter in Expenses as we agreed upon to support my initial thoughts and your current thoughts which would justify us trading at half of the .47 per share figure I posted earlier.
Either thought looks to be a safe and profitable situation for those at these levels. Again, with all due respect, I do hope that the second way I was looking at things is correct for share appreciation reasons. LOL
Thanks for sharing your thoughts!
v/r
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