Thats why the call it "take the hit" now. Since they wrote off $500k over the last year and most of the stockholders didn't even know, maybe you are right. Maybe they should have written off $300k a quarter for the next year and while profits would take a $300k a quarter hit, the average stockholder wouldnt know. As for bankers - they seem to be safe - no bankers here! lol
Taking the loss in the 4th quarter is done all the time. Especially when a new "leader" or new gameplan is put in place. I have been pretty irritated for about a year looking at A/R. I am glad they got it off their books. Bankers look at a high A/R compared to sales and assume the worst. At this point, if they can manage to keep their A/R low, then no harm, no foul. Heck, I bought my first business based on the previous owner's inability to collect on A/R. I have yet to have a problem with A/R.
Ty is the first loser.
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