INCOME TAXES. During fiscal 2004, we made $335,000 in estimated state income
tax payments and no estimated Federal income tax payments. Stock option
exercises during the fiscal year resulted in tax deductions for the Company
which offset any current Federal income tax liability for fiscal 2004 from
normal operations and created a net operating loss for income tax purposes. A
portion of the net operating loss is available for carryback to previous tax
years, resulting in an income tax refundable amount of $8.0 million at February
1, 2004. The remaining net operating loss will be carried forward and will
positively impact cash flow in fiscal 2005 by reducing required Federal and
state estimated tax payments for this fiscal year. In addition, during fiscal
2004, cash flow was positively impacted by $3.3 million in tax refunds related
to overpayments of estimated income tax made in fiscal 2003.
You have to give Irksome credit for jumping ship. Too bad he didnt let shareholders know what was going on. BODs are worthless and just a way to give favors out to friends and politicians and other whores.
Togo and Irksome spent 8 years ignoring Clinton, what a freaking donut company going to do to compare with what the slickster did.
Single digits almost assured unless there is mass firings.
do insiders ever hold stock? just bull
.... 35+ million KKD shares traded between 3/10 and last Thursday. Those that bought can rightfully claim they were misled to the tune of a $400 million loss by the false guidance issued and confirmed 3/10.... Those that sold during that period can thank their lucky stars, and Livengood et al for their deception. Or was it merely his stupidity? (Small joke: Those shorts that bought to cover during that period can (likely?) participate in any class action award.)
... no joke: The lawyers will get rich. Where was Murphy? Where was Togo?
.... since the initial IPO, we've seen a massive (like $2 billion?) creation of wealth by the McAleer gang, much to their credit and to the credit of a gullible investing public not excluding Institutional Wiseguys. Now we are seeing that wealth evaporate. Nobody complains of the easy riches, nobody enjoys the loss. Except the Shorts.
.... In the process, we've seen the insiders take something like $600 - $800 million cash out of Krispy, largely into the McAleer family pockets, to the benefit of generations to come. ... If you have to ask where the cash came from .... "Behind every great fortune lies a great crime.." Puzo, or was it Machievelli?
... Wonder if McCoy might not be preaching sermon in his church this AM?
... Much banter here of the little guys coming in to save the day ... to buoy up KKD from its present low. But this is Institutional Liquidation, on a massive scale, which can only be stabilized by offsetting Institutional buying. ... the old saw: "To Whom?" Once burned, at what point does an Analyst tell his management that KKD is a value?? Who'd take his advice? That is, if he's still around.
LOL...200 calories and 12 grams of fat in one of those glazed rings couldn't scare people away from them...but tell them there's 22 grams of carb and the place clears out like a fire alarm went off.
... Kudos to di_vur_se_fi.
And to you, my friend.
I'll be looking over the debt covenants this weekend.
Given the cashflow problems, depleted credit line, and high debt level, I may have to move up my February 2006 Golden Sombrero scenario.
It looks like something is going on with the Audit Committee; I've never seen an explicit invitation to contact the committee regarding accounting issues as found in the recent proxy; too bad you have to go thru Murphy.
... caught me by suprise. Thought they might have another quarter or two of nonsense to hype.
... in particular, the Montana Mills confession was a fooler. The time for required "impairment" review was at year-end. The fact that there was no write-off then raises a Big Red Flag as to shareholder suit. Surprised they waited. What went on at the Audit Committee review? Was there one? Why the couple of months delay? Where was their legal advice? McCoy and ethics.
... where sit the Auditors? Read their comment, weeks ago.
... fraud not likely provable, KK's massive disclosures the likely defense. Conflicts of interest be damned.
... in terms of suits, beyond Montana Mills, Livengood's attempted No-Cal muscle job and the Board's approval of the Arbitration Settlement will come back to haunt. As will the Dallas cash looting. No need for the Big Shorts to act, the damaged Longs will swarm, the vulture attornies flocking to the corpse. Actions likely filed within the day.
... management changes coming. Mission accomplished in terms of the bailing of the insiders, well before the fall.
... Poor simple Phalen, who needs this?
... outside Board Members?
... and the franchisees?
... how sit the little guys, the 160,000 claimed KKD bagholders? Faith in the system. Bought what they knew.
... 40-odd million shares in Institutional hands, 13 million short. As of this morning. In low 20's, the panic to dump eases. Big shorts are likely covering. A new ballgame trading wise, from here on.
... Fidelity, Barron, et al will cover their blunder, go merrily on to greater deeds. other people's money.
... Wachovia?? The credit line?
... more to be learned from our mistakes than from our winners. Lessons learned? The story yet to unfold.
... And around the Water Cooler in Winston-Salem.
... Kudos to di_vur_se_fi.
... Who reads this board?
You have jumped on the defensive and are grasping at ANYTHING that will give you the LEAST bit of credibility on a donut chat board.....very amusing.
You had been raving on and on about how everyone here should beware what they say on the KKD chat board because managment reads this board and could take (legal) action, like action that was taken by another corporation against a poster on ITS chat boared who LIED about accusations against the corporaion.
I mocked your paranoia to death (it was so cute and innocent) and, to rub your nose in it, posted that I was going to tell my Uncle Scott on you for badmouthing KKD....RE
Your attempts to paint a different picture here truly show the desparation, the UNRAVELING, of Digenetic....that subclass of worm, which, according to Webster's has some reproduction glitch.
You have obviously replaced that classic smug, pompous, egotistical, paranoid hypocrite on this board, Gopherit.....congratulations.
Dig that hole a little deeper.
...Wait a second, didn't the doofus once tell us Frank Murphy was watching me and what I've been posting here. Frank being a lawyer and all, as if he'd likely sue my ass off?
Yes he did. The Uncouth One did say that. Out in the open. Trying to put the devil in poor Diogenes, my guess. Said Frank Murphy was watching me careful like.
... on this very board?
Yes it was. On this very board.
... This the same Frank Murphy who signs the Annual Report?
... Who goes by the title of "Executive Vice President, General Counsel, Chief Governance Officer, and Secretary"? Who serves as gate-keeper between the shareholders and the KKD Directors?
... Guess he rates as "management" in the KKD way of things.
You'd think so.
... Has Murphy sued you yet?
No. Not that I can tell. Of course its still early on.