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Brekford Corp. Message Board

  • jerrybutler13 jerrybutler13 Nov 19, 2013 11:32 AM Flag

    If the contract is voided and BFDI gets all the camera money back...

    Which is what I think will happen, then what is the value of BFDI? 14 cents seems low.

    Sentiment: Hold

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    • Not sure, but is the 'camera money' already somewhere in the Assets on BFDI's balance sheet....like in Accounts Receivable or 'Property Plant and Equipment''? If its money that both BFDI and Baltimore agrees is owed to BFDI, then I guess its in one of those two accounts. If its in A/R, then its already accounted for.....and its in PP&E, then it would provide BFDI with a nice cash cushion.

      If its currently nowhere on BFDI's balance sheet......I guess you're saying the service for the cameras/software was already provided by BFDI and expensed as a cost of services to be rendered, but if the contract is nullified then the service will not be rendered, so BFDI should be recompensed? That would be a nice windfall.

      Anyway, I just think if it was agreed upon that Baltimore would repay BFDI for the cameras/software, it should already be somewhere on the balance sheet as an asset......but I could definitely be wrong.

      best.

    • unfortunately, bfdi is still three times book value, is in a very low margin business, is carrying a relatively large amount of debt, and its current ratio is about to go underwater

      add to that the affect this baltimore failure is going to have on their reputation and ability to get contracts in the future, and maybe their best course of action is to sell off whatever tangible assets they have and seek new contracts as crossing guards at elementary schools since, arguably, they have experience in promoting safety in those venues

 
BFDI
0.2750.000(0.00%)Jan 30 9:44 AMEST

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