if you don't care for the music... you can read the lyrics. I think they fit
My will cannot be broken Cause when I rot I crawl back from the dead I am the living proof That you can right what is wrong in your head The weak can always overcome but only if they burn with desire And all the tears a man can cry They will not put out the fire Walk with knowledge wisely You don't have to die Put an end to what poisons you My heart might have been broken That will only fuel what grows in my mind I am the living proof That a soul can burn a thousand times Accept what God has given you And you'll find the answer all around Rise from the ashes And be heard with a deafening sound Walk with knowledge wisely You don't have to die Put an end to what poisons you Walk with knowledge wisely and be free
Speaks to my love of Buells and what we Buellers go through.
" You got to stay tuned, cause there's more to see unbreakable! Through the technical difficulties unbreakable! We just might be breaking up but yall know we'll be back next week"
The going concern assumption is universally understood and accepted by accounting professionals; however, it has never been formally incorporated into U.S GAAP.[1] In October 2008, Financial Accounting Standards Board issued an Exposure Draft called, going concern. It discusses the following possible pronouncements for the going concern: Reconsideration of defining and incorporating the terms going concern and substantial doubt into U.S. GAAP The time horizon over which management would evaluate the entity’s ability to meet its obligations The type of information that management should consider in evaluating the entity’s ability to meet its obligations The effect of subsequent events on management’s evaluation of the entity’s ability to meet its obligations Whether to provide guidance on the liquidation basis of accounting .
A current definition of the going concern assumption can be found in the AICPA Statement on Auditing Standards No.1 Codification of Auditing Standards and Procedures, Section 341, “ The Auditor’s Consideration of an Entity’s Ability to Continue as a Going Concern”(AU Section 341). The 'going concern' concept assumes that the business will remain in existence long enough for all the assets of the business to be fully utilized. Utilized assets means obtaining the complete benefit from their earning potential. (i.e. if you recently purchased equipment costing $5,000 that had 5 years of productive/useful life, then under the going concern assumption, the accountant would only write off one year's value $1,000 (1/5th) this year, leaving $4,000 to be treated as a fixed asset with future economic value for the business)
It . . . in the instant case . . . refers to the company being in an "in business" rather than a "winding down" stage.
Many accounting principals and financial information relies on the "going concern" concept.
Imagine if you knew you were terminally ill and started running up credit card bills and debt . . knowing you'd not be here to be accountable. That, in simplest terms, is pretty much the opposite of what a "going concern" describes.
These kinds of wild speculation threads are fun... and very much akin to TV coverage of the OJ chase or election night waiting for the exit polling results to come in. We are just amusing ourselves, and may stumble across a discovery or two, but really we are just entertaining ourselves.
This has to be a two people with the same name kind of thing. How does a guy who works security at a concert (six weeks ago) have the cash to buy Erik Buell Racing? Should I have cashed out my retirement fund and now I could be the new owner? This isn't making sense.
Hugh, I was thinking this thread remains for "reckless speculation", and your thread (excellent idea) be reserved for actual facts.
Court, information required to be public is of course required to be public. And all animals are equal. But some animals are more equal than others....
I listened in on the Court proceedings this morning. The paperwork the Receiver has been sending out gave instructions on signing up.
I am not saying that the Bruce Belfer in the unfavorable link above is the same Mr. Bruce Belfer (principal of Atlantic Metals Group, LLC from this mornings Court proceedings) as I have absolutely no idea on that.
All EBR owners and anyone with a claim was invited to listen in on the proceedings. Only a handful of people listened in. I was one of them. Brankin speaks the truth. Mr. Belfer was there in the courtroom representing Atlantic Metals Group, LLC.
I heard they had over 100 bikes in the inventory. Conservatively lets say they are worth $10,000 each that is a Million dollars right there. This buyer got an unbelievable deal!!
A guy on another forum posted that he contacted the receiver last week who told him there were enough parts in the factory to build another 250 bikes. FWIW.
Getting a 20M company for 2.2M is quite the deal assuming he has no other old liabilities. Assuming he has enough additional cash to operate, the company could move forward quickly if they can satisfy the parts vendors losses. I would guess that not all of the old employees would need to be re-hired. Those involved with the Hero engineering effort may not be needed. I would expect the man power going forward will be very lean.
The new owner will need to determine what type of company they want to be. A motorcycle manufacturer or Consulting Engineering Company or a racing company. What combination will provide the ROI required to move forward. If Hero was their only consulting client, then that may not provide the ROI.
With all of the burned dealers out there, I bet they have one chance to gain back the goodwill. I would expect all resources will be devoted to support the motorcycle product line and dealers. It will be interesting to see how vendor monies will be allocated. If the court simply awards based on a percentage, there could be a lot of upset vendors. Vendors for required parts may not be to willing to move forward due to their losses. Can their losses be offset by continuing to do business with them with the possibility of getting burned twice?
My curiosity come into play regarding the current bikes at the dealers that are trying to unload their inventory. What happens to those bikes that are sold at huge discounts? Are there any type of warranty or are they sold as-is. Also with the company being bought and could possibly start the production line back up, do the dealers bring the prices back to market or unload and get out?
I am interested in an SX, but with uncertainty it could go either way. Buy it now with the huge discount and with the risk of no support or wait and the prices go back up.