The EBITA numbers would actually be considered fraudulent if you knew that there would be difficulty collecting the A/R down the road. The management and BOD were not a bunch of high school kids were they? Supposedly they were experienced business people who actually knew how to run a business. What happened in this case?

 Something is very wrong here. Is it possible that the BOD believed in October that things were so swell as to announce the paying of dividends for the next 3 months, only to renign on that promise just last week? I don't think so, as too many questions would have been asked at the time. Someone has been biding for time.  Poseidon Concepts is in worse shape than any of us believed or would have even ever thought, in my honest opinion...

Kherson