They are, however, properly listed on the books as assets worth and cost of $10 million which is their original cost and still equivalent net worth.
The Golden Lounge (TGL)
Scovanner Share Wednesday, February 17, 2010 1:35:17 PM
Re: Rawnoc post# 220518 Post # of 239288
Explain again on why you think the media credits are "Liquid" in the JBII current Q filing under current assets?
Thanks.
investorshub.advfn.com 
Rawnoc Share Wednesday, February 17, 2010 1:40:17 PM
Re: Scovanner post# 220519 Tweet Post # of 239288
I don't recall calling the media credits "liquid" nor "current" assets.
They are, however, properly listed on the books as assets worth and cost of $10 million which is their original cost and still equivalent net worth.
investorshub.advfn.com
Scovanner Share Wednesday, February 17, 2010 1:43:46 PM
Re: Rawnoc post# 220523 Post # of 239288
"They are, however, properly listed on the books as assets worth and cost of $10 million which is their original cost and still equivalent net worth."
FYI: It isn't properly listed on the books.
For one, you can't get 10 million for them and that is what the company has it as in there balance sheet.
There's trickier going on with the books.
That's never a good sign.
Thanks.
investorshub.advfn.com
Rawnoc Share Wednesday, February 17, 2010 1:49:56 PM
Re: Scovanner post# 220524 Tweet Post # of 239288
Wrong. I already proved it beyond a shadow of a doubt. "You can't get $10 million for them" is not only your opinion, not only irrelevant, but quite possibly is false downright.
When a company makes an acquisition, they acquire all sorts of items at the cost its target acquired them at. The liquidation value is completely irrelevant. A company acquires things like office furtuniture, equipments, machines, trucks, and even accounts receivable who's liquidation and 2nd market value would be pennies on the dollar if they tried to "Ebay them" but they still get transferred over at full face value and get written off over time just like any other asset -- that is, when they are used up. This is basic GAAP accounting that matches proper expenses with revenues in the correct timeframe.
The $10 million in media credits get used at the actual media itself is used. If JBII pays for $1 million worth of advertising next quarter, they will expense $1 million against the $10 million asset during that quarter.
Basic stuff.
investorshub.advfn.com
Scovanner Share Wednesday, February 17, 2010 1:54:12 PM
Re: Rawnoc post# 220525 Tweet Post # of 239288
You haven't proved anything.
The media credits shouldn't be under current assets. That's all I'm saying to you.
That is unethical and misleading for JBII.
You don't have to reply unless you have a rebuttal.
investorshub.advfn.com
Rawnoc Share Wednesday, February 17, 2010 2:03:45 PM
Re: Scovanner post# 220526 Post # of 239288
Wrong again.
"In accounting, a current asset is an asset on the balance sheet which is expected to be sold or otherwise used up in the near future, usually within one year, or one business cycle - whichever is longer. Typical current assets include cash, cash equivalents, accounts receivable, inventory, the portion of prepaid accounts which will be used within a year, and short-term investments."
en.wikipedia.org
"Media credits" is another term for Prepaid Media. Like buying your car insurance one year in advance you have "Car Insurance Credits" listed under current assets.
investorshub.advfn.com
Scovanner Share Wednesday, February 17, 2010 2:00:07 PM
Re: ashkelon post# 220528 Post # of 239288
First learn how to read a balance sheet. Thanks.
Second, your 10 million dollar media credits aren't liquid.
Third, The media credits should be placed under other assets not current assets.
That is what is misleading and unethical.
Thanks. Don't reply back to me.
investorshub.advfn.com
Rawnoc Share Wednesday, February 17, 2010 2:08:36 PM
Re: Scovanner post# 220530 Post # of 239288
First I can read a balance sheet in my sleep.
Second, current assets don't have to be "liquid" -- that's not the definition of current assets. The #2 entry on virtually all balance sheets is accounts receivable which are anything but liquid.
Third, media credits should be placed under current assets if they are goint to be used up within a year. Because they are current assets in that case.
There's nothing misleading and ethical. Not to mention how irrelevant classifying an asset as "current" vs. "other" is anyway as the TOTAL assets and shareholders equity remains identical in either case.
But in any event, media credits are just like prepaid insurance which is also listed as a current asseet. It's a prepaid upcoming expense.
investorshub.advfn.com
Churak Share Wednesday, February 17, 2010 2:25:53 PM
Re: Scovanner post# 220530 Post # of 239288
Re a current asset:
Current assets
Main article: Current asset
Current assets are cash and other assets expected to be converted to cash, sold, or consumed either in a year or in the operating cycle, without disturbing the normal operations of a business. These assets are continually turned over in the course of a business during normal business activity.
en.wikipedia.org
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