---In Avid-L2@yahoogroups.com, <philip@...> wrote :
Earlier this year, there was this.
http://www.studiodaily.com/2014/01/avid-makes-new-vp-appointments-hires-new-audit-firm/
Highlight - Avid's cash balance at the end of 2013 was approximately $48 million, with no debt, the company said. Cash expenditures related to the accounting evaluation in 2014 will amount to between $25 million and $34 million, Avid said.
That does not appear to be good news. A year ago I wrote:
While total assets have fallen by about $48 million, the one we most care about - Cash and Cash Equivalents - went up from $32,885,000 at Dec 31, 2011, to $71,359,00, although there is a balancing $29 million drop in accounts receivable. That is still a net increase of about $20 million in the bank.http://www.philiphodgetts.com/?p=14048
The linked filing below has Avid's cash on hand on March 30 was $22 million. That appears to be a reversal of the increasing bank balance at the last reported (2012) figures.
Philip
Earlier this year, there was this.
http://www.studiodaily.com/2014/01/avid-makes-new-vp-appointments-hires-new-audit-firm/
Highlight - Avid's cash balance at the end of 2013 was approximately $48 million, with no debt, the company said. Cash expenditures related to the accounting evaluation in 2014 will amount to between $25 million and $34 million, Avid said.
The 8-K filing says Avid's cash on hand on March 30 was $22 million. That appears to be a reversal of the increasing bank balance at the last reported (2012) figures.
Indeed. Avid seems to have spent $26 million in Q1 2014. If none of that $26 million went towards the restatement, then Avid could be in debt by $3 million to $9 million based upon their estimate of the cost for the accounting evaluation.
Indeed. Avid seems to have spent $26 million in Q1 2014. If none of that $26 million went towards the restatement, then Avid could be in debt by $3 million to $9 million based upon their estimate of the cost for the accounting evaluation.
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