As Reported Financial Statements

Balance Sheet

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Year Ending Dec 2023 (Update) Year Ending Dec 2022 (Update) Year Ending Dec 2021 (Update) Year Ending Dec 2020 (Update) Year Ending Dec 2019 (Update)
Cash 221.89 87.28 337.66 167.67 181.40
Cash and Short Term Investments 221.89 87.28 337.66 167.67 181.40
Accounts Receivable - Trade, Gross 47.11 28.81 10.57 12.83 35.09
Accounts Receivable - Trade, Net 47.11 28.81 10.57 12.83 35.09
Receivables - Other 0.00 0.00 0.00 0.00 0.00
Total Receivables, Net 47.11 28.81 10.57 12.83 35.09
Prepaid Expenses 1.26 2.10 1.09 1.98 9.05
LT Investments - Other 11,159.75 8,198.59 4,605.35 5,178.32 12,825.37
Long Term Investments 11,159.75 8,198.59 4,605.35 5,178.32 12,825.37
Restricted Cash - Long Term 36.97 30.81 18.55 4.00 91.77
Other Long Term Assets, Total 36.97 30.81 18.55 4.00 91.77
Other Assets 877.41 1,089.46 304.07 159.69 129.75
Other Assets, Total 877.41 1,089.46 304.07 159.69 129.75
Total Assets 12,344.40 9,437.05 5,277.31 5,524.49 13,272.42
Accounts Payable 350.27 502.66 0.00 0.00 0.00
Payable/Accrued 6.72 6.40 2.73 2.57 3.59
Accrued Expenses 31.56 22.51 0.94 1.63 31.93
Notes Payable/Short Term Debt 9,647.98 6,463.06 3,948.04 4,536.07 11,354.55
Other Payables 860.13 963.59 171.06 44.70 14.96
Other Current liabilities, Total 860.13 963.59 171.06 44.70 14.96
Total Long Term Debt 0.00 0.00 0.00 0.00 0.00
Total Debt 9,647.98 6,463.06 3,948.04 4,536.07 11,354.55
Other Liabilities 176.55 366.45 10.90 1.22 430.69
Other Liabilities, Total 176.55 366.45 10.90 1.22 430.69
Total Liabilities 11,073.21 8,324.68 4,133.67 4,586.18 11,835.71
Redeemable Preferred Stock 0.01 0.01 0.01 0.01 0.00
Redeemable Convertible Preferred Stock 0.00 0.00 0.00 0.00 0.00
Redeemable Preferred Stock, Total 0.01 0.01 0.01 0.01 0.00
Preferred Stock - Non Redeemable 0.00 0.00 0.00 0.00 0.01
Convertible Preferred Stock – Non-Redeemable 0.00 0.00 0.00 0.00 0.00
Preferred Stock - Non Redeemable, Net 0.00 0.00 0.00 0.00 0.01
Common Stock 0.05 0.16 0.09 0.07 0.06
Common Stock, Total 0.05 0.16 0.09 0.07 0.06
Additional Paid-In Capital 4,318.16 3,874.63 3,403.13 3,033.03 3,054.60
Retained Earnings (Accumulated Deficit) -826.46 -758.54 -2,366.56 -2,273.82 -1,973.44
Other Equity -2,220.57 -1,992.36 0.00 0.00 0.00
Other Comprehensive Income 0.00 -11.53 106.97 179.03 355.47
Other Equity, Total -2,220.57 -2,003.89 106.97 179.03 355.47
Total Equity 1,271.18 1,112.37 1,143.64 938.30 1,436.71
Total Liabilities & Shareholders' Equity 12,344.40 9,437.05 5,277.31 5,524.49 13,272.42
Shares Outstanding – Common Stock Primary Issue 48.80 32.58 18.83 13.06 11.78
Total Common Shares Outstanding 48.80 32.58 18.83 13.06 11.78
Treasury Shares – Common Primary Issue 0.00 0.00 0.00 0.00 0.00
Shares Outstanding - Preferred Issue 1 0.00 0.00 0.00 0.00 0.00
Shares Outstanding - Preferred Issue 2 0.00 0.00 0.00 8.38 8.38
Shares Outstanding - Preferred Issue 3 6.85 6.85 6.85 5.35 0.00
Total Preferred Shares Outstanding 6.85 6.85 6.85 13.73 8.38
Treasury Shares – Primary Preferred Issue 0.00 0.00 0.00 0.00 0.00
Treasury Shares - Preferred Issue 2 0.00 0.00 0.00 0.00 0.00
Treasury Shares - Preferred Issue 3 0.00 0.00 0.00 0.00 0.00
Employees 0.00 0.00 0.00 0.00 0.00
Number of Common Shareholders 149.00 155.00 141.00 138.00 138.00
Net Debt 9,426.10 6,375.78 3,610.38 4,368.40 11,173.16
Tangible Book Value 1,271.18 1,112.37 1,143.63 938.30 1,436.70
Tangible Book Value per Share 26.05 34.14 60.73 71.86 122.01

Income Statement

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Year Ending Dec 2023 (Update) Year Ending Dec 2022 (Update) Year Ending Dec 2021 (Update) Year Ending Dec 2020 (Update) Year Ending Dec 2019 (Update)
Net Sales 501.42 -67.12 57.39 -119.16 76.80
Revenue 501.42 -67.12 57.39 -119.16 76.80
Total Revenue 501.42 -67.12 57.39 -119.16 76.80
Cost of Revenue 557.38 146.77 29.62 83.74 317.80
Cost of Revenue, Total 557.38 146.77 29.62 83.74 317.80
Gross Profit -55.96 -213.89 27.77 -202.91 -241.00
Selling/General/Administrative Expense -- -- 3.45 4.51 3.52
Labor & Related Expense 4.94 5.49 6.61 5.60 3.89
Selling/General/Administrative Expenses, Total 4.94 5.49 10.07 10.11 7.41
Impairment-Assets Held for Sale 0.00 4.18 0.00 1.01 0.00
Other Unusual Expense (Income) -- -- -- -- --
Unusual Expense (Income) 0.00 4.18 0.00 1.01 0.00
Other, Net 7.02 6.37 2.34 1.08 1.50
Other Operating Expenses, Total 7.02 6.37 2.34 1.08 1.50
Total Operating Expense 569.35 162.81 42.03 95.95 326.71
Operating Income -67.92 -229.93 15.36 -215.11 -249.91
Net Income Before Taxes -67.92 -229.93 15.36 -215.11 -249.91
Income Tax – Total -- -- -- -- --
Income After Tax -67.92 -229.93 15.36 -215.11 -249.91
Net Income Before Extraordinary Items -67.92 -229.93 15.36 -215.11 -249.91
Net Income -67.92 -229.93 15.36 -215.11 -249.91
Preferred Dividends -11.98 -11.98 -11.47 -9.79 -15.63
Total Adjustments to Net Income -11.98 -11.98 -11.47 -9.79 -15.63
Income Available to Common Excluding Extraordinary Items -79.91 -241.91 3.89 -224.90 -265.54
Income Available to Common Stocks Including Extraordinary Items -79.91 -241.91 3.89 -224.90 -265.54
Basic Weighted Average Shares 43.05 23.59 15.90 12.61 11.57
Basic EPS Excluding Extraordinary Items -1.86 -10.25 0.24 -17.83 -22.96
Basic EPS Including Extraordinary Items -1.86 -10.25 0.24 -17.83 -22.96
Dilution Adjustment -- -- -- -- --
Diluted Net Income -79.91 -241.91 3.89 -224.90 -265.54
Diluted Weighted Average Shares 43.05 23.59 16.06 12.61 11.57
Diluted EPS Excluding Extraordinary Items -1.86 -10.25 0.24 -17.83 -22.96
Diluted EPS Including Extraordinary Items -1.86 -10.25 0.24 -17.83 -22.96
DPS - Common Stock Primary Issue 5.00 6.00 6.00 6.00 10.80
Gross Dividends - Common Stock 216.22 142.42 96.63 75.49 124.48
Total Special Items 0.00 4.18 0.00 1.01 0.00
Normalized Income Before Taxes -67.92 -225.75 15.36 -214.10 -249.91
Effect of Special Items on Income Taxes 0.00 0.00 0.00 0.00 0.00
Income Taxes Excluding Impact of Special Items 0.00 0.00 0.00 0.00 0.00
Normalized Income After Taxes -67.92 -225.75 15.36 -214.10 -249.91
Normalized Income Available to Common -79.91 -237.73 3.89 -223.89 -265.54
Basic Normalized EPS -1.86 -10.08 0.24 -17.75 -22.96
Diluted Normalized EPS -1.86 -10.08 0.24 -17.75 -22.96
Interest Expense, Supplemental 525.79 120.79 7.11 62.97 288.23
Stock-Based Compensation, Supplemental 3.20 3.70 4.77 4.07 2.69
Audit-Related Fees, Supplemental -- 1.07 0.98 0.95 1.00
Audit-Related Fees -- 0.00 -- -- --
Tax Fees, Supplemental -- 0.04 0.06 0.18 0.23
All Other Fees Paid to Auditor, Supplemental -- 0.00 0.00 0.00 0.00
Gross Margin -11.16 -- 48.39 -- -313.78
Operating Margin -13.55 -- 26.77 -- -325.38
Pretax Margin -13.55 -- 26.77 -- -325.38
Net Profit Margin -15.94 -- 6.78 -- -345.74
Normalized EBIT -67.92 -225.75 15.36 -214.10 -249.91
Net Interest Margin, Total -% 0.23 1.30 -- -- --

Financial Strength

Quick Ratio (MRQ)
Quick Ratio (FY))
Current Ratio (MRQ)
Current Ratio (FY)
LT Debt to Equity (MRQ) (%)
LT Debt to Equity (FY) (%)
Total Debt to Equity (MRQ) (%) 773.54
Total Debt to Equity (FY) (%) 758.98

In millions of USD (except for per share items)