Building of Casino cost $700 million. Reading the story - the Indians kicked out MGM! Rumor has it that MGM ask for over $500K a year to use their name and management personnel. Indian counter and with $100K. Both wanted another 5 year agreement.
Allowance for bad and doubtful debts $41,466,990. CPSL wrote down it A/R as not collectible.
Here are other year end stuff:
Operating loss was $70.2 million, compared to operating loss of $14.0 million in fiscal year 2012. Net loss was $69.0 million, compared to a net loss of $16.9 million a year ago. Fully diluted loss per share was $17.76, compared to fully diluted loss per share of $4.37 for fiscal year 2012.
As of June 30, 2013, China Precision Steel had $75,243 in cash and cash equivalents, total liabilities of $67.0 million. Stockholders' equity was $52.9 million, compared to $118.9 million as of June 30, 2012.
Shareholders equity has been cut in half! Not good. They have almost nothing in cash! The company cannot collect from their existing customers.
In other words; they sold all their products to deadbeat customers. LOL!
From the latest on rumors of the iPad Mini - the 2013 iPad Mini 2 is only going to get a minor refresh - an upgraded A5X. No Retina version until 2014!
Samsung, Hauwei, ZTE, Microsoft, Apple, Google, IBM, Cisco, etc.... I be surprise it the final buy out price does not exceed $600 a share!
Big bid by the private equity firm Cerberus Capital Management. I think the bid could be in the upper 2 digits! They know that this could be another Apple in the rough!
Microsoft marketing so take this trend and increase the price on Windows 7 - double it! Windows Ultra Pro should be then $700 a single user license and Enterprise should be $26,000 for a 100 user licenses.
Lawyers will make the majority of the money if a lawsuit is filed against the company! Shareholders only get pennies on the dolloar like .15 per share while the litigators get 1.25 a share! LOL!
BRRY will have a buyout of around $300 a share. Just it security section is worth $200 million. Now throw in the enterprise section another $100 million. Patents are another $200 million. Buyer want a bargain buy so that were the final buyout will be around $300 a share. If BRRY were profitable - looking at $600 a share - easily!
Look for Microsoft to offer much more then 7 billion for BRRY! I looking for about $150 billion or more!
Look for Facebook and Amazon to make an offer! Some Chinese firm will die to buy out BRRY Just hoping it will be over $300 per share buyout!