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Post by gtay87 on Nov 10, 2016 11:51:50 GMT -5
I asked about this yesterday but no one offered any explanation. I cannot figure out what happened to the 161 million dollars recorded now as "net revenue -- collaboration." Where did that money go? Shouldn't it show up on the balance sheet somewhere? They don't appear to have ever spent any. It doesn't appear to have been used to resolve the convertible debt issues that arose last August. Then they raised 30 million or so with the TASE listing plus the 50 million from the May offering. It seems like they should be floating on a sea of cash at this point. Is it just some sort of consequence due to an accounting rule?
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Post by therealisaching on Nov 10, 2016 11:56:19 GMT -5
I asked about this yesterday but no one offered any explanation. I cannot figure out what happened to the 161 million dollars recorded now as "net revenue -- collaboration." Where did that money go? Shouldn't it show up on the balance sheet somewhere? They don't appear to have ever spent any. It doesn't appear to have been used to resolve the convertible debt issues that arose last August. Then they raised 30 million or so with the TASE listing plus the 50 million from the May offering. It seems like they should be floating on a sea of cash at this point. Is it just some sort of consequence due to an accounting rule? All of the revenue prior to the breakup was deferred due to the makeup of the deal with Sanofi. The 161MM isnt new money its just an accounting treament to reduce a liabilty & credit a sale now that they are split.
The cash you see on the balance sheet is what they have + new inflows announced yesterday.
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ssaq
Newbie
Posts: 13 
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Post by ssaq on Nov 10, 2016 12:05:20 GMT -5
I asked about this yesterday but no one offered any explanation. I cannot figure out what happened to the 161 million dollars recorded now as "net revenue -- collaboration." Where did that money go? Shouldn't it show up on the balance sheet somewhere? They don't appear to have ever spent any. It doesn't appear to have been used to resolve the convertible debt issues that arose last August. Then they raised 30 million or so with the TASE listing plus the 50 million from the May offering. It seems like they should be floating on a sea of cash at this point. Is it just some sort of consequence due to an accounting rule? Basically it was already spent, so doesn't change cash position today. They just held off accounting for the $in until now. |
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Post by mannmade on Nov 10, 2016 15:22:25 GMT -5
Yes so next quarter will not look so profitable and will show a big decline in revenue and MannKind operating at a loss again... It won't mean anything but expect the shorts to use it...
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