Status of Everything Attachments

[CloverKnollFarms]

Like, if you already spent $300k in payments for products you haven't shipped, but have not accounted for the expense of buying the materials or paying for labor to build the product in 5 months or paying property taxes?

BTW, might 5 months of sales not shipped be even more than $300k?

I’m spitballing, but yeah. Im a simple man, and these are big numbers

 

[Torvy]

I've done commercial lending. The bank underwriters look at everything. The collateral will determine the methodology. Most of it is regulated by federal agencies. This applies to this situation and a national news story we cannot discuss.

 

[airbiscuit]

So Ted has enough liquidity to fill all the orders for which he's been paid?

 

[ultrarunner]

Isn't a lender, lending such large sums, really responsible for ensuring the correct valuation is given? I mean, I can't walk into a bank asking for a loan, based on a $500k income, without them making me prove it

One would think due diligence at every step...

Sometimes even when lenders willingly lend and loans repaid without issue a claim of fraud is made by regulatory bodies... just saying it does happen.

 

[ruffdog]

.............a fool and his money are soon parted.

 

[airbiscuit]

 

[CloverKnollFarms]

One would think due diligence at every step...

Sometimes even when lenders willingly lend and loans repaid without issue a claim of fraud is made by regulatory bodies... just saying it does happen.

Only in New York

 

[LouNY]

Only in New York

 

[3 Horse Ranch]

Like, if you already spent $300k in payments for products you haven't shipped, but have not accounted for the expense of buying the materials or paying for labor to build the product in 5 months or paying property taxes?

BTW, might 5 months of sales not shipped be even more than $300k?

I saw an estimate based on the last known order placed in early January minus the last known order delivered mid-August 23 and it was 2700 orders. Figuring that about half of the orders were for parts, tooth bars, PTO shields, etc and maybe got delivered, that leaves an estimated 1200 undelivered implement orders with an average price of $2500 and $3 million would be closer.
I was told that they had 20-30 welders each welding up 2 to 4 implements per day, so it doesn't seem unreasonable. (On Google Earth or Bing Satellite views there were 40-50 cars in the parking lot.)

 

[Fuddyduddy1952]

Satellite views may be many months old...unless something I'm unaware of. I just now checked our place and it shows me & contractor installing a shed overhang and that was 3 years ago.