Obviously you are on the right track with "adding up payables", however depreciation of equipment, property, etc. also have to be taken into account, as well as any benefits from past losses. Probably a bit more to this than meets the eye, however it should be definitely a solvable problem.
Also, we need an inventory of current assets, (if any), share count (that will be an interesting topic to read), warrants (I assume there must be some), loans payable (possibly Mary E.).
All in all though, it doesn't appear to be "that" difficult of a problem, and believe it can be readily solved "if" the company has any type of record-keeping at all. That may be the crux of the situation.
Why keep records when you aren't earning money?? --GARY-- |
