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Technology Stocks : Lightbridge (LTBG)
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To: Qualopec who wrote (123)2/12/1998 5:26:00 PM
From: Thomas G. Magnani  Read Replies (1) of 202
 
I think the more important issue here is how did the company do work outside the scope of its contract to the tune of $1M and not be able to bill it? This is rather a remarkable event. First of all, the work must have been progressing for some period of time and you would think be billed accordingly, not in lump sum at the end. Also, as it was building up in "unbilled receivables" what type of financial review was taking place to assure its ultimate collectibilty. I'd have to say that management's credibility is in question over this. Reading into it, AT&T was not backing down and LTBG had to in order to not jeopardize a major client. Of course I still hold out that this is inexcuseable management of the situation from a financial picture.
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