Come on...every body,,
"Who's your BRoadCuM daddy??"
FREEEEEEEDDDEEEEE!!!
FREEEEEEEDDDEEEEE!!!
FREEEEEEEDDDEEEEE!!!
here is the PR I've been waiting for:
biz.yahoo.com
estimate was .28 ...now he says pennies!!!
Anyone want to talk thier BULLSHIT forward PE with me tonight??
"In consideration of the fact that one of the purchase agreements has been cancelled, Broadcom believes it is now reasonable to challenge whether from an accounting standpoint there is still a high probability that other customers holding the warrants will meet their purchase or development commitments. As a result, its outside auditors have advised Broadcom that the fixed accounting treatment may no longer be appropriate. One alternative that has been proposed is the use of a variable accounting model. That model assigns value to the outstanding warrants only when and to the extent they are earned by the customer and vest. The assigned value is the fair value of the warrants when the customer earns them, and the entire value assigned to the earned warrants in each period is treated as a deduction from the related revenue earned under the purchase/development agreements during that period. Given the lack of precedent in this area, the outside auditors are still inconclusive on the appropriate accounting for these contracts.
Because this is an emerging accounting area for which its auditors have found no clear precedent, Broadcom and its auditors have been consulting with the staff of the Securities and Exchange Commission (SEC) on what the appropriate accounting should be for these transactions given the current circumstances. In its efforts to determine the correct and appropriate accounting treatment, Broadcom has never had any disagreement with its auditors or any governmental agency over the facts or the structure of these transactions. The only uncertainty is over the appropriate standards to use in accounting for the transactions.
``At every step of the way, our outside auditors have been fully involved in assisting us in determining the most appropriate accounting for these unique circumstances, and we have always made prompt and full disclosure of all relevant facts and circumstances to them,'' Nicholas said. ``Moreover, we have always been in full agreement with our outside auditors as to the accounting for the performance-based warrant arrangements.'' |
