yeah I doubt they would give that info up... prolly would need arcadia permission
By the way wtf is steve talking about? His 8.5 mill number as of 9/31/11... I think he is losing it.
The 12/31/11 number is what we are looking at and to get that number you could either look in the 10q or take the 8.5 and multiply that by 1-(2.75/4) which basically brings u to 9. 2.75 is the bank prime yearly rate and you have to divide that by 4 since its quarterly.
Arcadia has made it clear that they will be unable to pay comerica which is why comerica already knows that it has a TDR of 9mill AFTER JAN 1 2012. IT STATES THAT IN THE COMERICA 10K.
Its funny to listen to steve try to correct dallas bc he is even wrong talking to dallas! There is a portion written off. That is why their is an allowance account.
Its the same thing as the allowance for doubtful accounts for accounts receivable. Companies write off what they anticipate they will not collect. They obvioiusly are writing off 3 mill in 2011 and they anticipate another 1 mill in 2012. That means comerica doesnt plan on writing all of it off only a portion which means they still think they will collect the remaining 5 plus another 2 bc the agreement states up to 11 mill may be borrowed which leads me to beleive that they have discussed extending this money. READ WHAT A TDR IS! READ READ READ STEVE.
I work in accounting so although I am speculating arcadias debt is in that TDR number, I do know how what that debt actually means to comerica which leads me to believe that debt very well could be arcadias IMO.
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