I am not a CA or CMA. I barely know how to work a calculator.
Could some finance savvy individual help me interpret this snippet from PRIVATE MEDIA GROUP INC.’s year-end financial report for 2010:

"As a result, our independent registered public accounting firm has concluded that there is substantial doubt as to our ability to continue as a going concern, and has modified its report in the form of an explanatory paragraph describing the events that have given rise to this uncertainty. Our ability to continue as a going concern is based on our ability to generate or obtain sufficient cash to meet our obligations on a timely basis and ultimately to attain profitable operations."

Man, I remember watching KRUGER PARK, THE TOWER, and those features shot on a big ship sailing around the Mediterranean with the PRIVATE logo painted on the side.

It means that Private is a victim of Madoff and the Wilpons.

But Blondie is still going to be at Kruger Park holding lion cubs, right? I mean, take away the money and the girls will still be there....always.....right?

Live on tape, yes.

You ever watch Blondie's "casting" scene, BI? Ranks among by favorites.

btw, have you consulted with Shy Love [who claims certification, IIRC] or the lovely Marie McCray, who has stated she studied Accounting at Purdue?

Or are there restraining orders?

Liabilities definitely outweigh ASSets. If they are putting notes like that in the financial report, they are seriously fucked.

"going concern" = stay in business. It is no longer called "going concern" accounting, but "liquidation accounting."

It is a qualified opinion. As opposed to unqualified opinions, which say that the information provided by the auditee is correct and complete, etc. etc.. You need to look in the auditor's notes to find the aforementioned "explanatory paragraph."

http://www.fasb.org/cs/ContentServer?c=FASBContent_C&pagename=FASB%2FFASBContent_C%2FProjectUpdatePage&cid=900000011115

No, I haven't seen it. For Pierre Woodman?

No restraining orders...yet. Never worked with Shy but I like her very much. Marie and I enjoyed each other's company. I probably enjoyed hers more than she enjoyed mine but that's life.

I want to get to the bottom of how Private, a public company, is publicly announcing a very private matter. Shareholders must be concerned. I hope that I can one day bail them out.

Slick Willie, I want to hire you to investigate this. One of my favorite companies appears to be in trouble and I want to see how we can help.

I am willing to do my part by taking on several contract girls. All at once or one at a time.

They aren't announcing it, their auditors are. It is required by FASB, and by the SEC since the company is publicly traded. Think Enron and Arthur Andersen.

Here's what you need to know:

1. they lost over E900M last year, and have lost Euros 3 of the last 4. the only reason they showed a profir in FY09 was an accrual basis tax credit, which doesn't really give you any extra cash in the bank.

2. they can no longer borrow money from banks. I've never heard of a pornographer having the stones to walk into a bank and ask for a loan, maybe in happens in bizarro-Porn Valley.

3. the "notes" mentioned by the company from their auditor say:

"4. The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 1 to the financial statements, the Company has not yet reestablished profitable operations. The Company has suffered recurring losses from operations over the past years and has a working capital deficit. These factors raise substantial doubt about its ability to continue as a going concern. Management’s plans in regard to these matters are also described in Note 1. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

5. Also, in our opinion, the financial statement schedule, when considered in relation to the basic consolidated financial statements taken as a whole, presents fairly, in all material respects, the information set forth therein.

/s/ BDO Auditores, S.L.
BDO AUDITORES, S.L.
Barcelona, Spain
May 31, 2011"

and from the company's notes:

"In each of the past three years we have experienced losses from operations. At December 31, 2010, we had cash and cash equivalents of EUR 370,000 and a working capital deficit of EUR 1,102,000. As a result, our independent registered public accounting firm has concluded that there is substantial doubt as to our ability to continue as a going concern, and has modified its report in the form of an explanatory paragraph describing the events that have given rise to this uncertainty. Our ability to continue as a going concern is based on our ability to generate or obtain sufficient cash to meet our obligations on a timely basis and ultimately to attain profitable operations. We currently expect future growth, reduction in cost and expenses and to return to profitability provided we are successful with the following objectives:..."

http://sec.gov/Archives/edgar/data/1068084/000119312511158448/d10k.htm

I would never trust a pornographer's financial statements anyway. I bet half of them are cooked, and too many SFV rejects walk around thinking their 38th installment of Cum Fart Cocktails still sells for $34.95 retail. Yeah, right.

The stock price is below a buck (NASDAQ: PRVT). Willie, how long can you live below $5 on the NASDAQ before you are pink-sheeted?

Berth Milton, Jr supposedly owns most of the stock. My guess is that he continued to live a 1990s excessive lifestyle in the 21st century and the pre high speed Internet magic go-go days of VHS and DVD were long gone.

Arthur Anderson? Wasn't he in Lisa Ann's gangbang for Elegant Angel?

Yeah he posts here as "faceblaster".

I thought so! Well, "Faceblaster/Arthur Anderson," please interpret this data regarding PRIVATE's stock on NASDAQ:

Last Sale $ 0.80
Change Net / % 0.15 23.08%
Best Bid / Ask N/A / N/A
1y Target Est: N/A
Today's High / Low $ 0.8499 / $ 0.7593
Share Volume 13,303
50 Day Avg. Daily Volume 9,233
Previous Close $ 0.65
52 Wk High / Low $ 2.1885 / $ 0.4851
Shares Outstanding 20,706,000
Market Value of Listed Security $ 16,564,800
P/E Ratio NE
Forward P/E (1yr) N/A
Earnings Per Share $ -1.52

In general, is it a good thing or a bad thing to have a negative Earnings Per Share?

For the record, I enjoyed CUM FART COCKTAILS vol. 38. It was a gas.

Rear Admiral may have some thoughts about this. Although he isn't an accountant.

In general, is it a good thing or a bad thing to have a negative Earnings Per Share?

Are you serious?

I seen it, that is one of my favorite casting scenes too. I actually site-ripped the Woodman's site 4 months ago, legally, I paid for 1 month membership and then cancelled it. I even had to buy a new hard drive because he began doing the castings in 1.35GB size per file.

When their stock will hit $0.10 I will buy it.

Am I ever serious? C'mon, man.

I wonder if anyone will make money shorting the stock. I've never done it but I have made money writing covered calls. Even when you lose a stock, you win!

Their name gotta be worth something.

Aw shit, I just pissed a little laughing at that.

Yes. It is the best of his castings. Without equal. I'll try to post screens later.





btw, stop being a PWL and listing real names. Apologize to Arthur! You could cost him his consulting gig.

I'll take Aneta Keys Casting over Blondies.

[img:center]http://www.xxxporntalk.com/ubbthreads/ub...snapshot_00.08_[2011.06.08_00.36.02].jpg[/img]

[img:center]http://www.xxxporntalk.com/ubbthreads/ubbthreads.php?ubb=download&Number=43206&filename=Private%20Castings%2001%20-%20Pierre%20Woodman%20-%2 [img:center]http://www.xxxporntalk.com/ubbthreads/ub...snapshot_11.00_[2011.06.08_00.37.08].jpg [/img] 0Blondie.avi_snapshot_07.27_[2011.06.08_00.36.36].jpg[/img]

[img:center]http://www.xxxporntalk.com/ubbthreads/ub...snapshot_10.14_[2011.06.08_00.36.54].jpg[/img]

[img:center]http://www.xxxporntalk.com/ubbthreads/ub...snapshot_14.27_[2011.06.08_00.37.26].jpg[/img]

Thx, Panzer.

The pics won't embed because of the pic capture name

This casting is also one of my most favorite ones. BTW, I bought the ANALCASTINGS.COM domain name.

Yeah. The new system doesn't like punctuation in the name.

so arthur panzerellis throwing his hat into the porn wind?

I have to take a closer look her her's. I collected them a few years back [obviously in less resolution than your recent rip], so I don't recall them as quickly as I had.

If you are a perv like me then you will enjoy this one as well:

Keep up. He's been strategic domain squatting for some time now.

It's like 98 domain names.

good one panzie. Both the domain name and the last pic

I also got FRENCHS.CO and FRANKSREDHOT.CO

will sell 4 cheap.

Like mother like son.

are any of those domains bagel related?

I think Duke already has BagelAbuse for a forth coming Jew broad throat and ass fucking site.

We need to rename this The Panzer Actually Makes a Positive Contribution to this Site Thread.

Maybe it's evidence that someone DID hack his account.

This is a perfect example of what I don't get about some porn nowadays. I wouldn't mind sticking my dick in there, but trying to determine whether my head might fit, or if there's a gerbil in there.....

I applaud balding men everywhere who get to fuck hot women. For too long we have been the victims of discrimination....mostly by hot women.

You aren't discriminated against because you are bald, it's cause you are a hypocrite sack of shit.

I thought it was the herpes.