Ener1 (HEV) to Record $35.4M GAAP Loss from Think Holdings Bankruptcy
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Ener1, Inc. (NYSE: HEV) expects to report a GAAP charge of $35.4 million due to the loans receivable of Think Holdings, AS and accounts receivable of Think Global, AS.
The Audit Committee, Chief Executive Officer and Chief Financial Officer made this conclusion based on the announcement by Think Global that, following an extended and ultimately unsuccessful search for long-term financing, it will file bankruptcy proceedings in the Norwegian courts on June 22, 2011.
No word on which period the loss will be recognized in.
The Audit Committee, Chief Executive Officer and Chief Financial Officer made this conclusion based on the announcement by Think Global that, following an extended and ultimately unsuccessful search for long-term financing, it will file bankruptcy proceedings in the Norwegian courts on June 22, 2011.
No word on which period the loss will be recognized in.
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