I haven't looked through the report yet, but based on the press released, the accounting changes they've made along with some of the brief analysis really reflect the Miller Group's involvement and Rudy's insistence that the company become more transparent and inline with industry standards. The numbers in the press release really aren't that bad. Yes there's a small loss but that's with the intellectual property [IP] zeroed out that many of us thought was pretty dubious anyway. They also included deferred revenues as a liability which is a very conservative approach.
The thing two regarding the changes in accounting also is that according to the Miller this has also effected the press releases whereas before PR's were issued when agreements were inked, most PR's now aren't made until orders are fulfilled thus meaning that PR's for agreements that didn't come to fruition don't have to be retracted. This may not make some traders happy that are looking for bumps from PR's, but it is also much better long term policy.
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