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Strategies & Market Trends : BFT: Will the tulip craze ever break down? -- Ignore unavailable to you. Want to Upgrade?

To: put2rich who wrote (347)	4/21/1998 3:38:00 PM
From: Pancho Villa	Read Replies (2) \| Respond to of 650

TD and all. Nice to see our puppy starting to behave. I have some interesting findings on revenue recognition details and apparent cost control of their operations related to the securitized 160 Million credit line (on top of their 97/8 debtl). Receivables with 160 million face value are set aside to warrant payment. BFT is reimbursed for some of the expenses associated for collection and keeps any funds left over after paying 10% interest on the 160 million. The net effect is that some of the 18% interest they charge customers goes directly to cover some operating expenses of their centralized account handling facilities giving the impression of improved costs. Need to put some time to make sure all the details fit in. I have not posted any interesting findings on their accounting recently as it appears that every time I post them some one gets BERY BERY BERY upset and drives the price up:-) Pancho