I note that you seem to ruffling a few feathers with your (mindless?) trumpeting of some expensive report on Cellular, which may or may not include 5 year olds. If I found some report on cellular with 5 year old included in any fashion in my in basket, I would have to consider even free as too high a price and file it, not in a round file, but in a rectangular one I have with a slot and motor. A short period of grinding would occur.
I have reviewed the Nokia 20F and think I understand why the SEC does not consider it satisfactory for their use. It is entirely too readable and in a pleasant easy to read font. I believe the SEC prefers or perhaps requires the use of the type of font used on line printers (chain printers) years ago. Similar, I think, to the printer in use in the basement of the B of A building in SF in the sixties or early seventies. Once a month, a special report, on very costly paper, was prepared using a custom program on the mainframe. Every one would gather around the printer and hope that the program would malfunction in a special way. On a very random basis, it would do a bunch of form feeds, print one line, more form feeds, print one line, etc, until the paper was rising several feet above the printer and a nice standing wave was formed. It would quit after a few lines were printed and the expensive paper would be in a pile on the floor. The line printed was "THE GREEN PHANTOM STRIKES AGAIN". The B of A had wisely refused to pay for the source code and since the free lance programmer had long ago cashed the check and beat feet, there not much the B of A could do to correct the problem.
The numbers in the 20F, are of course, provided under accounting standards that may or may not be clear. Taxes are usually a good indicator of profits, however, that does not seem to show up other than in passing with no total figure given. (wait, there it is, on page 72, going up, that is good, now someone calculate the tax rate ).
However, it appears that US residents are taxed at lower rate than residents of Finland, who may also have to pay a transfer tax as well as the Finnish tax on net capital. How would that work? Seems to have problems if the net capital is determined on a certain date, such as the peak price on a dotcom and when the tax is due, the dotcom is out of business and the stock worthless, which could be a matter of a few months or weeks. Would the Finnish Government accept the now worthless stock?
The history is worth reading, 135 years to go from papermaking to rubber boots, tires and cable to the present, including the technological breakthrough of GSM.
Nice graphic showing the progression from a 22 pound phone to 2.78 ounces.
Also, they identify the various property, plants and equipment that they own. I note that the R and D site in SD is absent from the list. Not very productive, perhaps?
Why do they have a 40 million British pounds sterling loan at an 11.375 per cent fixed rate? For a tax deduction?
All in all, a very easy read, compared to some the forecasts you seem to focus on and also, easier to read than some of the posts here that seem to be written in reverse polish notation in forty columns. |
