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Strategies & Market Trends : BAK - Investing
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To: Zoso_17 who wrote (2878)6/5/2012 3:53:23 PM
From: Covenant1 Recommendation   of 3249
 
Re: At what price would you buy GRPN?

The lastest incarnation of Novastar (Novation) books appraisals performed by others as revenue and the appraisal cost as cost of sales rather than book the margin which is the true revenue. From this margin, all of the costs Novation incurs must be deducted to see what the true margin is. The company is doing a fairly good job of obfuscating their financial statements.

When financial statements look obfuscated it is because management wants them to be that way.
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