skd....whats the go?, page-6

First up- I own some SKD shares and run my own CA firm so do have an understanding of accounting firms.

Despite some good comments on HC I did not see this coming. Even with the tradingc comments I alway sthought that SKD had real value due to its client base of accounting fees which can be sold. Unfotunately applying private company transactions re fees does not seem to apply in the public arena- I traded SKD when it was low and made money but I am know holding a few.

I am stuck with a few shares and a bad punt but I still have a firm- other have shares and their clients are owned by SKD- this will be a real issue. I would think they just take them back and say stuff SKD.

My comments (not that it matters as it has know got ugly (as said)) and the Mark boys are not cheap but:

- SKD has approx $120,00,000 in fees and a lot of FUM- The accounting fees are worth at a minimum 50% on the dollar under "normal" conditions.
- SKD has minmal debt
- Problem is that firms who sold SKD the fees (at 1:00 per share) can just start up again and take the clients so may be of no value
- the FUM are also worth money

It will be interesting to see how the VA's handle the client issues and what they can get for the fees. I do not hold out much hope.