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PRG GROUP INC Message Board

  • bjspokanimal bjspokanimal Nov 9, 2010 12:53 PM Flag

    If I May Speculate...

    First, let me say we won't know anything for sure until it's done. That said:

    The "financial statement re-statements" have only been represented as "timing" oriented. So far, every indication provided has been that the "magnitude" of revenues/earnings/assets are not in question, only the timing of when they were earned or created.

    That said, the "SEC's private investigation" leads me to wonder if someone inside the company wasn't up to something. Generally, when someone tries to "skim" something, they generally cover it via timing... eg, carrying a deficiency they've created from one time-period to another to cover it.

    I know nothing that the rest of you know from reading the release, but my best bet is that someone inside the company may be the SEC's target due to the "timing" aspect of all this.

    I'm thinking that if it IS timing and related to an individual(s), that it's magnitude would be something less than if the company cooked to books in any way.

    The fact that the release stated cash/receivable stats and indicated rising receivables borne out of higher business levels did improve the spin on the release to some degree.

    Anyway... my thoughts based on the release, FWIW.

    Spok

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Traders fearing the worse - that's why you see the nearly 10% drop in VOL today (to about 8)

      If VOL goes south 20%+ in another one day, need I say more?

      Sad to see the ending of VOL, if indeed the worse fear becomes reality.

      GLTA

      • 1 Reply to joetong419
      • ... they mentioned a "private SEC probe"...

        ... but the talk of receivables rising with business activity and re-iteration of the "timing" aspect of the restatements (rather than lowering the numbers overall) appears to be what limited the stock's swoon to just the 8%.

        This thing is thinly traded... it could have dropped much more on any decent amount of imbalance.

        S

 
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