Financial & Accounting

A Sinking Ship, A Determined Crew

There really is no need for a summary here… The financial documents contained under this tab speak loudly and clearly for themselves but there are some things to note as a matter of interest.  Latitudes and Attitudes was no cash cow.  In fact it was drawing its final financial breaths when we came along.  Years of robbing Peter to pay Paul, no fiscal planning or controls, legions of hands in the kitty and a lifeltyle of decadence that could no longer be supported basically bankrupted the company.  I remeber telling Bob during one of our many meetings about the financials that he in fact had sold the company many times over because all of the money that was taken out as “Expenses” rather than kept in the company for growth and financial rainy day planning.  Regardless, that is another story for another time.  The documents I have included pertain directly to the talking points that Bob has put out there and that I am refuting.