Altman Bankruptcy Predictor Calculations, Rev. 2
Doc: Here is Revision 2 of the Altman Bankruptcy Predictor calculations (#reply-9576514). Revision 2 incorporates the latest data from today's Q.
Please note that the AIPN Z-score has now actually gone negative, due primarily to a reduction in the X4 and X5 financial ratios (i.e., MVE/BVTL and TS/TA). Quite interestingly, the only ratio that showed any relative improvement from the YE98 numbers was X1 (i.e., WC/TA). Despite this improvement, however, net working capital remains negative: <$2.20 MM>.
Finally, please note that the AIPN Z-score is now well below that of both Forcenergy (NYSE:FEN) and Hurricane Hydrocarbons (NASDAQ:HHLAF) when these two oil companies sought bankruptcy protection through their respective court systems.
References:
1) FEN: #reply-8462255, Z = 0.11, BK 3/22/99.
2) HHLAF: #reply-8680930, #reply-9546976, Z = 1.18, BK 5/14/99.
Just my little contribution to the thread. Obviously just my opinion, too, of course. ;^)
Your pal,
Razor
a/k/a Court Jester
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