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Gold/Mining/Energy : GEAC.....Canadian best kept secret
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To: AChan who wrote (1203)6/20/2000 12:51:00 PM
From: Doug   of 1571
 
AChan: earnings for GEAC are not important. As you know, the Operating earnings are +ve but decreasing. However the nett earnings are -ve and increasing in magnitude .

The Company and its Creditors rely on a buisness model which though tax correct is not acceptable to the street. In brief, GEAC is making purchases which results in much bigger depreciation than actually shown on the Buisness plan. To overcome that, they need to step up their cash flow which is not possible unless they reegineer.

I hope they learn from this downslide that it does not pay
to acquire using the Purchase accounting method.
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