Also.. If someone with a Finance background can chime in.
On the 'Statement of Cash Flows', the 'Net Cash Provided(Used)' line doesn't add up the #s above it. I'm guessing there are additions missing above the summation line? Or is it an arbitrary value?
It's significant ($5.8M) and has a direct impact on the ending cash value.
It's the sum of net loss from the income statement and the changes in operating assets and liabilities immediately above it.
It is fascinating to have the records available like this for review. This would make a good case review for a finance class to see how to wisely restructure operating loans and pre-filing debts to secure them prior to bankruptcy through the use of trusts. This was very carefully planned months ago.
It is fascinating to have the records available like this for review. This would make a good case review for a finance class to see how to wisely restructure operating loans and pre-filing debts to secure them prior to bankruptcy through the use of trusts. This was very carefully planned months ago.
Wow. I'm looking through the filings and spotted something on the balance sheet that looks like it could be shady....
Under their fixed assets, they only list $53k in aircraft. This makes it look like they liquidated all of their planes before filing to boost their financials, or they undervalued them to reduce their assets. But maybe they never owned them in the first place? Who know, but that jumped off the page at me. I can't think of an RV that is worth only $53k and they supposedly had several. Maybe it's rolled up under the accumulated depreciation, but that's some aggressive depreciation to my outsider uneducated eye.