Actually, if they did that... then they did report correctly as a gain on the sale of an asset. One could argue this isn't operating income, but other income... but why split hairs. I understand the $1.7 receivable, only if they haven't received the payment.
Assuming they haven't receive the payment, then I'm not sure how they are showing it on the cash flows. I would think that would be 1.7 million. Cash would seem to be overstated. I think is is covered under SFAS 95. Cash flows is one of the most confusing statements there is.
In fact, it wasn't a required statement until a bunch of yoyos started off balance sheet financing. I think it was put in place 10-15 years ago.
Does anyone wonder where a company worth $500K got $3+ million?
Any idea why ASX Halted trading on this Leviathon on 10/4? All trades from Friday cancelled, and RTD has announce a reorganiztion of trades that goes through late October... Anyone???? And don't ask for a link. Go to the ASX exchange and look for yourself.
You are talking about a company whose accounting procedures are more aggressive than 98% if other companies. Who knows how they booked it.
Assuming they sold part of Alaska for $3.4 million. I would think they would book it as revenue and operating income to give the false impression they actually generated revenue and profit. I'm not sure why an accural would be necessary if the entire amount is earned. If they have an obligation, then the debit would be to cash, with a credit to a liability or contra-asset. Like unearned revenue.
I have no doubt they will include the whole amount as revenue and operating income. #$%$ knows.
I have a buy in at $1.56... all the way down to $1.06. It has done this before, and particularly on low volume. I don't think it will get there, but I wouldn't pay over $2 for this POS. This company's. stock should not be $1.
This is completely corrupt trading, and I am absolutely sure whoever is doing things is doing so with participation from within. It wouldn't surprise me for this to spike to $4 either. I have my GTC ORDER in.
I I honestly expect bankruptcy, but have been thinking that for 2 years. The company truly is bankrupt. They have no production or revenue. The only returns are from the annual salaries that are being paid, along with th ekickbacks from the small time investment firm playing this stock.
Yeah, We are a couple days away for another PR claiming they have purchased the Bering Sea, and are going simultaneously catch crab and drill for oil at the same time. They also have an unnamed partner that is a "player" on the Singapore Exhange.
It's a scam alright..... I hope they get the jailtime they deserve... If anyone performs a forensic audit of where the $1.8 million came from, they are serving time.
NEVER OWNED A SHORT SHARE, AND NEVER POSTED FALSE INFORMATION. I looked on Edgar Online..... If you don't know what that is, may God have mercy on your soul.... Here are the instructions:
1) Google Edgar online
2) Where it has "ticker" type in "ROYL"
3) Hit Enter
4) Look at recent filings
5) click on the filing
6) Hit enter
6) Run to the bathroom to unload the deposit you made
I thought Rampart had given them enough money? Can somebody explain? I am confused.