Thread: Numbers, Peregrine Assets "$1.7 billion"

http://www.bloomberg.com/fgcgi.cgi?T...5YjhTlUGVyZWdy

They actually may have that much in assets, but the number of lawsuits that could result from shareholders could take away all of that. Remember, they (likely) padded their books much like Enron and Worldcom, but perhaps not to such an extent.

It's the same situation with everyday people today who are in a lot of debt. Believe it or not, some people who make six-figure salaries are in a lot of debt. Why? Because they "need" to buy 2 Mercedes', a state of the art home theater system, that new exotic in-ground pool, etc. It's called "living beyond your means". I'm proud of the fact I have no debt, except for recurring expenses, like food and the electric bill.

From what I've read, sure looks like they padded their books big time - that's what KPMG was making such a big fuss about when they got fired. There are a few devastating articles about this.

I just wonder what happens to SC now. It's Peregrine's mainstay product, so they can't IMO easily sell it off, so what happens now ? Does Peregrine try to stay alive with its core product ? But if they go down, what happens to SC then, does it just disappear ? That would be a major bummer for a heck of a lot of people...

Peregrine's disappearance has to be considered as a possibility now, with their stock worth a whopping 7 cents on the Pink Sheets....