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Technology Stocks : GTIS - Will it be a Phoenix or not ?
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To: Bonzo who wrote (1531)2/24/1998 1:31:00 AM
From: RJC2006   of 2319
 
Joe,
You're very perceptive and I think you have got it nailed down. Their accounts receivable is horrendous. Carrying that amount you are correct it seems there would have to be some bad debt write-off somewhere down the line. Now, if that amount is at least cut in half then GT could be headed toward better days. Now, I wonder if this change in accounting might be a result of the MPRS breakdown? Seems pretty obvious but the fact is the deal is a bust and why change accounting methods? I can only think of two reasons: 1. Those filing the lawsuits are dead on. 2. They are looking toward another acquisition in the future and don't want to see it fall through as a result of bookkeeping differences. Of course 2 takes into effect that this is the real reason that the deal collapsed. I wonder why MPRS would care one way or another what the accounting methods are. They were in line to make a pretty good return.
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