really? i've read market reports and research notes from analysts. they are 2-10 pages long and objective about the company under review. i dont see that here. rather a few hundred words from people with preconceived opinons. Im not ignoring facts, im trying to find and understand them. the fact the CEO is seeking investment can be good or bad: i want to see the deeper analysis to support either opinion, not opinion with no foundation. i see no one giving a professional research based analysis.
so you say the shit is hitting the fan, yet someone is betting $6m it isnt. which opinion should i trust?
With all due respect, I don't feel like writing a 10 page analysis about this... I have made up my mind and I have shared some of the key facts. I have spent time to type summaries of my point of view in previous reports.
If you read those, you will note that I myself have said on numerous occasions that I dislike the intransparency in some of the account lines MA are reporting. So how can I do an analysis purely on facts if I have no details to the account lines. I have to make assumptions.
I am not trying to make MA look bad or to have a negative view on purpose. I love this game and I don't want MA to go bust. But what I am trying to say is that althouhg MA manage to make the Profit and Loss look good, the financial situation is not that rosy.
When I see that a company like MA chucks millions down the drain on banking licence, and new property and suddenly pulls the plug on both (after that these projects have been running for years) and on top of that the financial reports exclusively states that the CFO tries to assure funding for 2010, then that should be prove to you as an ordinary person that things are not working quite as they should be.
I am not forcing you to believe what I say. It's my personal assessment. But I have been warning that MA will run into cash flow problems one year ago when everyone was praising the good looking Balancesheets and the Profit they made, but cash flow problems is just what is happening atm if you look at the financials... As a software company you can not just walk to a bank and get a credit for code lines as a collateral... This is a big trickier, which is why MA are now trying to sell out to get cash fast. MA need to now address this negative cash flow with urgency...
I am merely giving my recommendation to the community. People just believe the PnL figures cos they believe that is what's important. And the PnL looks sound. I am just trying to tell this community to watch out for other more important figures that pose a threat to this company. After all we all have "money" in this game.
I don't want MA to go bust, but i am worried it will if they don't act now.. MA has run a very agressive expansion and improvement strategy, nothing wrong with that. The problem is without new cash inflow. You can do this when you have reserves but this is not sustainable in the long run...
Make of it whatever you want... this is just my 2 pec