EPS is simply earnings devided by shares. We know the # of shares. What we don't know is the true earnings because of the possibility of bad debt. At year end their accountant will ask them for a bad debt figure. After that very easy to calculate or estimate EPS. The caveat is the size of uncollected accounts receivable and how much will be written off. The markets don't like uncertainty which management created by vauge statements about the size of the bad debt. Take total earnings for period - bad debt = EPS.
Vectorvest has a really interesting feature that graphs EPS and compare it to stock price. The graphs are very similar. The correlation explains very well why share price falls and rise when EPS falls or rises.
In this situation it is very easy to digest say a 20% bad debt. But the way management have dithered their words it makes one wonder if the right of if 10% or 90%.
What I think has happened is certain parties have pumped the stock through the roof than shorted it and are now falling back on 'said' allegations as a way of washing their hands of their own folly.