Its hard to beleive the price- values SKD at about $8,000,000.
it is still generating over $100,000,000 accounting/fin planning fees. There is still value in these fees- even at 50% on the dollar (market rate for practises woudl be 75-80%) it is worth a bit. Their debt is only $14,000,000 so company worth something.
However as at June 2002 it has 1,000 employees- therefore generating $110,000 of fees per employee- I run my own accounting firm and would go broke based on that- you need to avberage $200,000 in a small suburban firm let alone with Stockfords overheads etc.
Therefore value is in the ability to sell the fees- if somoene wants them. I know accountants who work there (sold their firms for shares at 1.00- now worthless). Huge staff problems and huge number of shares coming out of escrow. The people who have sold may try to buy back their firms- SKD will get something out of all this.
Iwill get back in once things settle down. Even if miss actual lows another cent or so will not make much of a difference.
SKD Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
