Hi Dan - yes, I saw that on my way out. Previously, I ve seen only the 1st PR. So I owe Armin one :). And yes, there will be some concerns. That said, at the very least, I am going to give the benefit of a doubt to VARL mgt. It is unlikely she can provide quick answers, if she has only recently recovered the situation. More, unless she has pulled the wool over everyone, component shops like VARL are less prone to funny money like MSTR etc. At most, she might have buried some of the cost in the wrong place or expense some cost w/o amortization etc etc [just a guess, since this is very sketchy and I am not privy to any information.]
So, the conclusion? Yes, you and Armin are right. The cloud is still hanging over. No, this is not that unusual. I would be more concerned if their current books are not as precise.
The upshot? The mgt has more reason to be investor friendly. We are talking about 2 strikes and 2 outs at the ninth innings here :)
best, Bosco |
