IMO, the issue is that BH and company are not taking salaries -- and to properly account would result in that observation, which would make people realize the weakness of the overall value proposition.
I'm looking forward to see how they account for the 'shares for advertising' transaction announced on October 1 -- a date which postpones required disclosure, unless you believe in the GAAP requirement to disclose material subsequent events.
My bet is the currently overdue Q3 financials do not talk about that transaction.
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