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SK3 Group Inc. SKTO
Posted On: 05/02/2014 2:39:00 PM
Post# of 36729
Posted By: Stockninja
As I understand it, the company still intends on collecting the 16 million they claimed as net income plus another 25 million in receivables already written off due to "conservative accounting practice". In January they announced they had contracted the services of a state wide delivery service. Now, it would seem to me that it would be quite easy to collect money owed after this point. It is very similar to how many loan sharks will take over the credit card processing of a business and take their percentage out as sales occur. When the delivery driver receives the cash, I would bet that SKTO takes their cut before passing that cash on to the collectives. So....if all that actually starts pouring into net earnings, that will put our p/e ratio at .5 or less.













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