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Office Depot, Inc. Message Board

hyulpy 4 posts  |  Last Activity: Aug 21, 2014 10:16 AM Member since: Jan 23, 2004
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  • hyulpy hyulpy Aug 21, 2014 10:16 AM Flag

    Also an opportunity to get a new chief design woman... maybe one that can increase sales this time.

  • Kabani & Co has audited the company's financial statements for the past several years. There have always been unqualified opinions. It seems kind of fishy to me that LLEN would have trouble collecting receivables just because their former CEO is now in a prison cell. Maybe there's more to it than that.

    Does anyone think that maybe there might have been some errors in the financial statements that Kabani & Co didn't find in their audits? I hope that's not the case because they are CPAs and they should have been able to tie out all the bank balances, verify receivables, existence of mines, etc. If Kabani overlooked something that was wrong, they might be sued by angry investors who lost money. If LLEN doesn't really have any money, Kabani might have some.

    Not a sermon, just a thought.

    By the way, my sentiment is now "Sell". I sold this stock at .55 (huge loss) shortly after trading resumed. Lesson learned.

    Sentiment: Sell

  • Reply to

    Earnings

    by hyulpy Jun 24, 2014 8:59 AM
    hyulpy hyulpy Jun 24, 2014 5:29 PM Flag

    Thank you so much for your thoughtful reply. I will be looking for a filing by the end of next month. It will be interesting to see if LLEN gets an unqualified opinion this year after all the negative publicity with Mr. Lee. I hope the board of directors hires a new CEO soon.

  • hyulpy by hyulpy Jun 24, 2014 8:59 AM Flag

    Does anyone know if/when the new LLEN management team will be releasing earnings? If earnings are really good, maybe the stock will go up. I'm worried that maybe with Lee away, it might be delaying the report. I know they have a CFO, but Lee was a CPA and might have usually signed off first. The website for LLEN doesn't indicate a release date yet.

ODP
5.61-0.09(-1.58%)Sep 19 4:05 PMEDT

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