TO ALL: It seems that off and on over the last several months at least some of us, or at times all of us , have had to take a pause and try to figure out what seemed like some complex or at least unusual financing and accounting reports from GIFS... all , so far have turned out to be fairly accurate. Now with all of their moves to have the #7 Acct firm to do their thing and the IRI thing, we feel better..... this statement out of the news release for tomorrow (at least to me) explains a little bit about how this company maintains their own value(remember the CD... whatever kind it was....it was creative)...
However, the company's core business of the future may be its international consulting division which
specializes in balance sheet enhancement, project collateralization, financial guarantees, structured finance
consulting, purchase order financing, in which the company reserves the right to act as a hybrid merchant
banker. This generated $1m in the 4Q of 96 and should repeat in the 1Q97.
If they are good enough to convince auditors and IRI of their value, even with their creative/unsusal methods.....there probably is a good market out there for other companies who .. have less creative financial minds......
What do you think????? back to the bleachers....game is heating up and the crowd is now into it..... Mark |
