We are talking about a large discrepancy/adjustment on the outstanding receivables book at a given point in time not on an annual basis.
Their published run rate on OPEX is circa $160 million for an internet based company.
That is quite clearly ridiculous unless you saw some Superbowl adverts.
There published bad debts are industry leading despite not doing credit checks.
Their Opex expenses are quite simply ludicrous compared to their peers despite no evidence of significant marketing campaigns and in a matter of five weeks their bad debts on outstanding receivables varies from 6.4 to 4.1 per cent.
APT Price at posting:
$74.90 Sentiment: Sell Disclosure: Not Held
