Forum - View topicNEWS: Ken Groove Sues Nutech Digital
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guyverfanboy
 Posts: 65 Location: Watchin anime |
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Sucks for Nutech. Well, I hope they go bankrupt. 1 episode disc is BS and won't see my money. (not too mention, the subs timed with the dub.
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biliano
Posts: 956 Location: Cleveland, OH |
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According to what I read in their latest financial profile, I'm surprised they haven't filed Chapter 11 yet. |
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Haiseikoh 1973
 Posts: 1590 Location: Waiting for the Japanese 1000 Gunieas. |
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A pile of BGC Tapes says they do it within 6 months. |
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MagicGunner
Posts: 3 |
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I'll venture even sooner than that. Their current liabilities is at $2,785,000 as of end of last year. Add their long term debt, and they owe nearly 3 and a half million. Paying Ken Groove a few hundred thousands is the least of their concerns.
It seems that Lee Kasper (the CEO) has been buying up his own company's stock little by little, as the stock prices have been sinking. I'd be dumping that stock, if I were him. 'Course, that would destroy the company in the process after everyone hears about it. |
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Joe Mello
 Posts: 2260 Location: Online Terminal |
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That's quite all right. At least for me. The automated system does seem to have a field day sometimes with names. |
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kusanagi-sama
 Posts: 1723 Location: Wichita Falls, TX |
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It also seems that Yahoo has only 3 years worth of data on their financials. FY ending Dec 2002, they loss $918,000 FY ending Dec 2003, the made $307,000 FY ending Dec 2004, the loss $1,235,000 For a total 3 year loss of $1,846,000 They went public at around Oct 03 at $.50 a share, hit a high of $1.50 a share near the end of Jan 04, and since has lost all of its value. The CEO makes $413,000, the Vice Pres makes $128,000 and the Director and Accountant makes $62,000. They have $126,000 in total cash, a debt of $1.49 million. If I understand a balance sheet correctly, total assets and liabilities are supposed to equal each other. |
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MagicGunner
Posts: 3 |
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It's actually assets = liabilities + stockholder's equity. They're using rounded numbers on the financial data, so it's off by $1,000. |
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Haiseikoh 1973
Posts: 1590 Location: Waiting for the Japanese 1000 Gunieas. |
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Considering that Dubya has messed with the Bankruptcy Laws, i'd say that it'll take sometime for them to do the paperwork to file for bankruptcy. |
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Penfold1999
 Posts: 18 Location: New York |
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But the bankruptcy Code changes have not taken effect and a majority of them are oriented towards individuals, not corporations. Thus Nu-Tech could seek bankruptcy protection, of course that would stay Ken Groove's action, but Ken Groove's could assert their claim in Bankr. Ct.[/code]
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