I notice Notes Rec. went up from $481,000.00 to $1,474,000.00. An increase of $993,000.00. Does anybody remember an expensive coin being auctioned this year? I wonder if this loan could be that coin?? Strictly a wild guess.
Let's not let the facts get in the way of a good story. They wrote down inventory and accounts receivable $538,000, not a million 4. A note receivable is not indictcative of a sale of a coin. It is most like either a shareholder loan or officer.
You can't really analyze accounts receivable, because it fluctuates wildly depending on auction timing vs. end of the accounting period.
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
A few years ago, I was the Pres of a publicly traded company. I look at this shambles of mismanagement, sweetheart deals, voodoo accounting, and say to myself, "Doesn't anyone have a clue as to how to run a business?"
With this kind of cash flow, they should be making money hand over fist.
"Ask, and it shall be given you; seek, and ye shall find; knock, and it shall be opened unto you." -Luke 11:9
"Hear, O Israel: The LORD our God is one LORD: And thou shalt love the LORD thy God with all thine heart, and with all thy soul, and with all thy might." -Deut. 6:4-5
"For the LORD is our judge, the LORD is our lawgiver, the LORD is our king; He will save us." -Isaiah 33:22
PCGS is ripe for a buyout or to be taken private, although the big insiders obviously control that call given their positions. Except for ordinary day to day business, the company apparently does not owe anyone a cent for loans, lines of credit, etc ... That is very unusual these days and makes it attractive because a buyer does not have to hold a fire sale of assets or divisions to retire debt while also paying off their own acquisition costs. Agreed, this company should be profitable. PCGS is the profit center, it may be time to pare down the under performing divisions ...
When I was in-house at a NASDAQ company, some key officers had borrowed from the company. Example: Company moves SVP from New Hampshire to Louisiana. Company loans SVP money to buy new house while waiting for old house in NH to sell. SVP gives Company a promissory note to document transaction. NH house sells for less than Louisiana house and the sales proceeds do no retire SVP's loan obligations to Company. SVP leaves Company and claims a "deal" that Company would never call the note. In that case, the note might be written down to zero on the books.
simple, invest in coins not coin stocks(only paper) invest in gold not gold stocks(only paper) invest in gold coins not dollars(only Paper) stay away from pieces of paper that claim to be worth something
Comments
I notice Notes Rec. went up from $481,000.00 to $1,474,000.00. An increase of $993,000.00.
Does anybody remember an expensive coin being auctioned this year?
I wonder if this loan could be that coin??
Strictly a wild guess.
dragon
A note receivable is not indictcative of a sale of a coin.
It is when the coin is worth $1M.
Or it could be from the sale of the currency business. Maybe they financed it?
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
They lost $13 million last year, but still have $32 million left to piss away so they'll still be around at least two more years.
My posts viewed
since 8/1/6
I should also note that virtually all of that $25 million would be for intangibles currently valued at ZERO on the CU balance sheet.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
With this kind of cash flow, they should be making money hand over fist.
Sweetheart deals? I haven't seen any. Have you?
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
"Ask, and it shall be given you; seek, and ye shall find; knock, and it shall be opened unto you." -Luke 11:9
"Hear, O Israel: The LORD our God is one LORD: And thou shalt love the LORD thy God with all thine heart, and with all thy soul, and with all thy might." -Deut. 6:4-5
"For the LORD is our judge, the LORD is our lawgiver, the LORD is our king; He will save us." -Isaiah 33:22
IMHO...Collect coins and invest in the plastic company.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
The Ludlow Brilliant Collection (1938-64)
When I was in-house at a NASDAQ company, some key officers had borrowed from the company. Example: Company moves SVP from New Hampshire to Louisiana. Company loans SVP money to buy new house while waiting for old house in NH to sell. SVP gives Company a promissory note to document transaction. NH house sells for less than Louisiana house and the sales proceeds do no retire SVP's loan obligations to Company. SVP leaves Company and claims a "deal" that Company would never call the note. In that case, the note might be written down to zero on the books.
I believe Collectors Universe can be bought in its entirety for $7,000.000
Stewart Blay
invest in gold not gold stocks(only paper)
invest in gold coins not dollars(only Paper)
stay away from pieces of paper that claim to be worth something
My 1866 Philly Mint Set
"Collectible sales revenue increased 21%"
and they're cold.
I don't want nobody to shoot me in the foxhole."
Mary
Best Franklin Website