Posted On: 08/20/2016 10:24:05 AM
Post# of 1514
I found that SETTLEMENT issue in the 10Q> Possible
$10M coming to BTGI although they characterize it
as a 'long term' issue and not a slam dunk they will
get it. Nevertheless still something to keep in mind for
potential upside in BTGI valuation. Here's how it reads
in the 10Q>
..................................................................................
"At March 31, 2016 and September 30, 2015, the Company has included in liabilities of discontinued operations the amount of $10,800,000 relative to a contract performance dispute of its wholly owned subsidiary, Bulova Technologies Ordnance Systems LLC, with the US Government. This amount represents deferred revenue arising from the percentage of completion accounting applied to a contract that was terminated prior to its completion. The Company has asserted various claims in this dispute and, consequently, is carrying this amount as long term pending resolution of the counter claims. There can be no assurance with respect to the outcome of this dispute."
http://www.otcmarkets.com/edgar/GetFilingHtml...D=11405547
$10M coming to BTGI although they characterize it
as a 'long term' issue and not a slam dunk they will
get it. Nevertheless still something to keep in mind for
potential upside in BTGI valuation. Here's how it reads
in the 10Q>
..................................................................................
"At March 31, 2016 and September 30, 2015, the Company has included in liabilities of discontinued operations the amount of $10,800,000 relative to a contract performance dispute of its wholly owned subsidiary, Bulova Technologies Ordnance Systems LLC, with the US Government. This amount represents deferred revenue arising from the percentage of completion accounting applied to a contract that was terminated prior to its completion. The Company has asserted various claims in this dispute and, consequently, is carrying this amount as long term pending resolution of the counter claims. There can be no assurance with respect to the outcome of this dispute."
http://www.otcmarkets.com/edgar/GetFilingHtml...D=11405547
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