Aurora Posts 1.3 Billion dollar loss in Q2 while hiding financials in press release

[westcoast420]

Cant make this shit up!! They didn't release their balance sheet and financials in their earnings report it was so bad!! Had to look up sec filings to find it, 1.3 billion in loses, not including the 950 million in impairment charges they lost 350 million due to operations hahahahaha, all while grossing 29 million. With 156 million in cash at the end of the year, they have about half a quarter of cash left. Their expenses increased by 20 million from last qtr mainly from salary increases to management and board members lol. So cut 500 jobs and give all the insiders raises..lol this company is a joke and cant wait to see it go bankrupt!!

BNN Bloomberg – Canada Business News, TSX Today & Interest Rates

Get the latest Canadian business news, TSX updates, interest rates and Bank of Canada coverage. Explore stock market investing and get expert financial insights on investment portfolio strategies.

www.bnnbloomberg.ca

 

[TheRealDman]

They have 2 months of cash left...LMFAO! Grabbing some popcorn to watch this flick!

 

[chex1111]

$920,926,000 in intangible assets and goodwill! Good job financial regulation team Canada!
Way to keep these companies off of GAAP

 

[TheRealDman]

$920,926,000 in intangible assets and goodwill! Good job financial regulation team Canada!
Way to keep these companies off of GAAP

If they really followed GAAP...they would’ve already been bankrupt! It’s just like their Cap of $2B+...how does that work on a $1.3B quarterly loss and barely $100M/year in rev?!?!

 

[gb123]

I hate popcorn but Ill definitely eat some to see these idiots go away!

 

[greg nr]

At this stage of financial health, management will start to get raises and bonuses as part of a "retention" package.

Companies start to argue at this point that due to uncertainty and risk, their very skilled and mobile upper management will bolt, thus dooming the company due to loss of intellectual leadership.

Never fails, you screw up long enough, and you become indispensable.

 

[spek9]

They have 2 months of cash left...LMFAO! Grabbing some popcorn to watch this flick!

After "executive performance" (ie. golden parachute) bonuses, they should only have about a week of operating cash remaining.

 

[greg nr]

After "executive performance" (ie. golden parachute) bonuses, they should only have about a week of operating cash remaining.

The perks aren't always that obvious. I've heard of pre-paid lifetime healthcare insurance, pre-paid life insurance policies that can be cashed in once the exec leaves the company, "loans" for houses, cars, and other temporary living expenses that get forgiven on company failure, etc. And because these are typically taxable as income, there are cash outlays to cover those liabilities.

These hidden operating expenses can add up to substantial amounts. And are usually very well hidden in filings.

 

[The Hippy]

hahahahahahahahaha
When do I celebrate.....can't wait.

 

[Freedom seed]

It would only be history repeating itself when the snakes leave with all the money.