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Technology Stocks : GX Investors Thread
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To: Spekulatius who wrote (87)8/23/2001 9:34:04 AM
From: BWAC  Read Replies (1) of 586
 
"here are some late comments:
>> Assets are also required to be shown on the books at the lower of Cost or Market Value. <<
There is no market value for GX's assets. The "market value" of GX would only be know if GX decided to liquidate itself. In the absence of a market value, GX will stick to a predetermined depreciating schedule. Is it obvious how fast GX depreciates its assets? Does anybody know the answer?"

Go back and read the series of posts from yesterday. It details the depreciation schedule form the 10K. Message 16243029

And this particular nugget from the 10K:

"h) Impairment of Long-Lived Assets

The Company periodically evaluates whether facts and circumstances have occurred that indicate the carrying amount of a long-lived asset may be impaired. If an evaluation is required, the estimated future undiscounted cash flows associated with the asset are compared to the asset's carrying amount to determine if a write-down to market value or discounted cash flow is required. "

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">> When the current in place network is fully depreciated ($11 Billion worth of depreciation) and still producing revenue will you argue that it has no value at all? <<
GX network will never be fully depreciates, because GX has to buy new equipment to keep its network up to snuff. How much does it cost to keep GX network state of the art?"

EMPHASIS was on CURRENT IN PLACE network. Said nothing about additional improvements, etc. Which I agree are necessary and appear to be around $2 Billion per year.
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