What's going on brother? How are you? Your hair looks fine. Don't worry about it. Oh, thanks. I'm trying to fly today Okay, I like life. All right What's going on man?  No, no, this is what you got to do Yeah, by the way for those of you who don't know mebs one of our new interns out here He just started probably what a month ago. Yeah about a little bit more than a month. Yeah Yeah, a month ago and he reached out to me ma'am. How old are you? I'm 22 22. Okay. He's 22 He's at Boston University. Mm-hmm. Yeah Okay, and he reached out to me said he had been watching my content videos and he had won some contracts So I said look you got to come on and tell the people because you know there's a lot of self doubt out here and we want to encourage folks and Then also, you know, we just want to I've got a quote here on the screen It says the mediocre teacher tells the good teacher explains the superior teacher demonstrates and the great teacher inspires So today we wanted some inspiration Okay, because I think a lot of times as I say and as you know mebs now answer the phones He's answering the email. So if you send an email of service at gov con giants calm He's the one that actually answers the emails is responding to you out there So he's the one that you're gonna be interacting with Maria is now Doing more high-level stuff. So she's not taking the emails and she's not taking the calls So this is what you're gonna be speaking to but I just want you to know right that you're not speaking to some regular guy He's just not some random kid at Boston University So mep tell a man the extraordinary things that you've done and what you're working on So that the people can know exactly who they're talking to like, you know, they probably like oh this guy He's not Maria, you know, I won't be on the phone. No, I'm not. I'm not. I'm not pretty Maria. Okay. There you go. See Give me listen, but you have your own right. You've earned your own keep so tell us now How did you kind of get into the space? Yeah, so I came in from East Africa I came to the US for like school and my dad used to do a lot of government contracting back in East Africa So I was like, you know what?  I need to like see if I can make my own money and see how that goes So I was like, I let me try to do something. I know how to do right? So it's a bit different than East Africa. So I came in I was like, I try and look online I was like, there's nowhere I can find anything about government contracting like why can I find anything? So then one of my friends sent me a link for PTAC and I was like, I spoke to them on the phone I was like, this is what I do. They're like, what industry are you in? What's your annual turnover? And I was like, oh my God, I was like, you know, I was like, it's already over man, like I had an idea of how it works I'll do my research and everything online. I spent like about one month I started my company about a year ago in August and I was like, I need to like figure out how this works Right? So I went to PTAC and then they asked me like all these questions They were like, it's kind of like heartbreaking as well because they were like, oh, you have you could You have to have you have to have fast experience. You have to have it. And I was like, I was like, no I was like, my dreams are already like my dreams are crushed. I'm done. I was like, it's over. I'm throwing the towel I'm throwing the towel. But then I was like, so I went to my friends all the guys it's kind of crazy That's what I'm trying to do. Right? Who's with me? And I was like, I went to school And they were like, you're like five of my friends are chilling on the porch So I was like, I was like, so who's it with me? Who's trying to do government contracting with me? And then I was like, no, I was like, damn, I was like, all right, that hurt. But two of my friends asked me What's government contracting? So I was like, I broke it down to them. I was like, let's watch a movie war dog So I sat down and I was like, we can do this. But with other things, I was like, don't think about like ammunition Let's think of some other things. And he's like, so what do you got in mind? I was like, I really don't know Like I was like, I have no idea. So we're like, all right, let's see how we're gonna do this So one of my friends gave me funding. So I knew him through school. I talked to him like we should like talk about business He's like entrepreneur his family owns hotels.  So he's like, I'm looking to invest this I was like, I got your the best investment right now. I got you So he gave me he gave me $10,000 to start off my company with and I asked my friend who's an accountant now So all these guys work with me for free. Like I don't pay them. Like they just like are in the idea, right? So like a couple of the idea. So I was like, let's build something right now. Like a baby Zuckerberg Yeah, but I feel like he was a bad guy kind of low key. But you know, I'm I was like, let's start looking at what we can do, right? So we started looking at budget to start looking at like state budgets Like who has like the biggest like budget. So we started looking in New York And I was like, okay, let's start looking at some samples about some small municipalities within New York Right. So like really look at Rockland County look at other counties. I know you don't champion like State but this is like, you know, it's like starting tiny tiny I was like, let's look so I found this tiny tiny county in New York that had a contract for four pages, right? There was like a four page contract. It was so easy to read. I was like, that's not bad I was like, and then there was like asking for clay targets clay shooting targets Like like little ones, right? So I was like, I don't know what to do about this But like let's start looking at online. So we started googling some stuff And then I found this guy who supplies clay targets in Canada So I was like, do some research about how to find historic data to figure out what my competitors were bidding before their personal one before And I found the freedom of information act that allows us to like have like, you know, free access to like the public procurement So I was like, all right, let's see how much this person like won this contract for last time It was like $8,000 and my supplier was was quoting me at around It was 8,500 already over that and I was like, I have my margin or anything. I was like, damn So I was asking my friends like, so what should we do? He's like, let's put in an offer at 10,000 10,000 flat and I was like, you know what doesn't hurt like we're not paying anything else, right? So when we filled out the the documents, he sent it out. Oh, that's my friend right there, Anthony press squarely That's it. That's the guy do with So we filled that together and we sent it out And then, you know days went by like weeks, you know, we were like, you know, this is a proof of concept We'll see if it's actually like we hit now. We'll start moving forward with it, right? So he's like I got an email. I turned over the next like a week after I sent the email, right from Westchester county And I was like just woke up. I looked at my phone. I see purchase order and I was like I was like, no way bro. I opened this thing. I zoomed in. I like looked at the five times I was like, that's just my name. That's just my company name and that's the price we want. I lost my mind I woke up my neighbors. I ran down to my mom. I was like, we won the contract. My mom has no idea what I'm talking about And like I was like, this is the best day of my life, right? So, uh, it's crazy. So we finally did it We I called the the guy. I was like, yes, can you deliver to this place? I drove from here to Westchester county for like a profit of a thousand dollars and my mom's like, why are you Driving all the way there for just a thousand dollars like people are looking at me like I was like I can't go to party on the weekend. I have to go to Westchester county to deliver my clay targets They're like, how much are you making? It's like a thousand dollars. They're like, ah, that's not that's not too much bro And I was like, it's about the relationship. You don't understand. I was I'm not in a relationship with these people So they're giving me more contracts, right? So I got there I started like unloading the clay targets myself by hand because I didn't want anything to fall anything I was there for two hours unloading And then they were like Thank you so much. And then so what happened is this is this I still have this is like what motivates me So I keep this in my desk. This is the first thing I ever sold the government. So I keep this Always think about this is a play targets, right? So this is like like, uh, I think it was like 10,000 cases of these So this gives me motivation, right? So I started calling them afterwards, right asking them How do we do can we do anything better? Like, you know, how was our service? They're like, you are the best You were the best Like clay target supplies we've ever had and we're going to give you contracts every two months For clay targets like the same month. I was like I was like, you aren't the best you've ever Right, you're like, wait, are you serious man? This is the first time I'm doing this man So he's like, but you know what man? First of all, you just said something and Anthony kind of echoed that Which is your great relationship builder People look at it like the thousand dollars like, oh, it's just a thousand dollars Right because they weren't thinking so they would have mine had a drop shipper drop ship it Or you know and it could have been broken. Maybe a lot late That's what the last person did the last person did that they broke it They broke so many their target and they still build them for it And they were like, no, we don't want to do this So that relationship that you champion so much is the key like it's huge, right? And you even sold it for a higher price than they were used to paying Yeah And they were just happy with the service that I provided to like get it to them. So I was like, you know, that's amazing So that happened and then it was crazy. So then Anthony and me were sitting down. We're like, okay, this is cool. This is actually working. Let's do something else Then I went to staples like the same thing this agency asked for for labels for like labels to stick on to things So I was just the staples and I was like, you know what let's try it out. Why not? I bought it from staples I sent in the offer and accepted it I was like, I went to staples I was like, what is happening? And this is it was crazy. So I started winning those contracts, right? And then me and Anthony were trying to figure out who we can look for for some advice for some mentoring and how to Take this to the next scale, right? So we sat there. We were like the researching online and Anthony called me. He's like, meant I found the guy I was like, what do you find like I found the guy on youtube this guy on youtube is doing he's telling People exactly what you're telling people and I was like, no way. I was like, really? Who is he's like Eric coffee?  So I started looking up your videos I went to Anthony's house. We sat there for like hours Pull put your videos on the big screen montage Eric coffee Eric coffee Our jaws on the floor We're like this guy is saying because I I was telling people that you know We could do this business, but no one was listening to no one's taking me seriously, right? And and the ptech was saying that people use government contracting as an additional source of revenue for their main business they have And I was trying to do a business solely on government Right, so I was like there's no shot that I'm going to make this And then you came along and you were like saying this and we were just like Mind blown we're like this is so sick And then we started doing it and linked up with you. I messaged you and Last been good Now let me ask you something because this part, all right, and I'm very proud of your story I love your story. It's great And by the way, one of the things that I told mails me first came in is hey, look, I'm very proud of you But that's not what I teach Relationship building part but not the local contracts, but I'm very happy because he did practice Uh, he you know, he he got an understanding of how contracts work He proved to people that you didn't need past performance He proved right that the guy who's the first and one of the things that I say all the time The government does not get the best people they get the people who actually go to them So that's why there's so much room and opportunity for all of us who want to be better contractors Who want to actually give good service to charge even a higher price because They're not getting the best people. They're just getting the people who respond Yeah, oftentimes that's people who are accustomed to in government contracts They take it for granted Like you said, they give them broken targets and they still charge them And so those people really I found myself meps personally when I started working for nana kid They were kicking a guy off the base because they kept giving them chances He wouldn't listen They were so used to being the man on campus and getting all the work and all the money that they're like Ah, you can't find anybody else and I'm the only one and we showed up came along Kick them off and it brought us on it gave us a four million dollar contract Now The funny thing is now you met me Right, like how long ago was it that you met me like we I mean not net but like we DMed and we started talking about working together Yeah, that was over the summer. I think it was in July. Okay, July Now You went to a meeting with me. Oh, yeah So let's talk about the meeting and what went down because Not many people get a chance to go to meetings with me And by the way, wait, hold on before you say that if you did not watch monday's video We talked about mentors and one thing that mebs fringes said is he's a relationship builder And we talked about giving right giving giving giving he reached out to me Right, but now I wasn't the first person reached out to you also reached out to some other people. Yeah Okay, who else did you reach out to we talked about it today? I reached out to the guy who was who actually was the war dog Like the actual the dude who actually is the guy that the movie's based on And I I messaged him. I was like and my first I think my first line was I think this is gonna this was probably a long shot but Do you think you could give me some like advice? I have a lot of these questions I'm trying to get into government contracting, but I'm not trying to do the ammunition I'm trying to do something else Please show me how you started right and he wrote me like two words saying what questions and then just I poured it on from there So one of the things that I think that that's a great illustration Is the fact that you were not afraid to reach out to people Yeah, no, right. I think a lot of us we So many of us have watched the movie war dogs. I don't know how many of us actually thought to reach out to the guy Who was the movie was based off of yeah, but you did And then also you watched my videos and then you reached out to me Yeah, because I feel like it doesn't hurt right all you see is like seen and then not replied you left on red You get ghosted and it's like all right. You move on then right? Yeah So now you reach out to me. We talked. It's okay, ma'am. We're gonna this guy is smart. I like him He's energetic. We're gonna bring him on now and then It so happens that I'm already working up in boston area in that area.  This is great. No, I'm joking But like it's like always like around so I was like I got takes opportunities. I reached out to you I want to get to like, you know get to know you like get to see you like and like 3d But after this, yeah, and then I had no idea that I was going to a meeting So I I thought it's like uh, hey, what's up?  I was like, I don't know what to do, man But it was a really eye-opening experience And it got me excited because like to be part of a community like this like of like minded people And like it's not just people talking about it, but giving advice but actually showing practically that this is what we're doing And it gave me excited because you guys were talking about Such big things, you know like talking about such big things like in the m's, you know I'm just dealing with the thousands here. You guys are like in the hundreds over there. I was like, oh my god I was like, I'm the right place, but I didn't say anything. I was so nervous One of your friends was like clowning me all the time. He's like, you don't talk. You're a ventriloquist or something Hey, man, because I'm used to talking to my friends about this because like that's a level of like not You guys are like miles ahead and says it just makes me want to push myself even more Your boys say he's the only one ever put up with you talking about government contracts Oh, yeah, no, I I talked his ear off like It was like with the phone like we're at a night out. We're at the club Me and him would like have like little little conversation like I'm like, let's come here with the music's quiet I'm thinking about this that's skin my mind right now. You know But it's because I use a nugget that you said like you said like for example reach out to the contracting Person that you already know and ask what else can I do? What else can I do? And I did that I called them and they were like, yeah, you supply us the clay targets Can you supply us a shotgun ammo to shoot the clay targets as well? And they were like, this is the price we wanted that and we will give you like we'll give you the like whole contract for a year And I was like, I wish I had the guy to do That's how I reached out to you. I was like, yeah. Yeah. Yeah. No Yeah, no, let me tell you that's a good story and and by the way that first meeting that we're at That mebs sat in we were with one of our tribal partners that we had just brought into town And he has a hundred million bonding and so we Mebs was in on the meeting with a tribal partner two companies that did 28 million dollars each And we were with a former chief of contracting for gsa Who had a limited warrant and had written contracts to the hundreds of millions of dollars? And that was his first meeting that he sat in with us at a big round table That he couldn't fit in the room because it was like 10 people in the room And he had to sit off in the corner in the back and just be quiet. So But it was exciting it was exciting No, but this is definitely uh Like I was I was like shocked that I found someone on youtube who does exactly what i tell my friends Let's do and you said it and I was like It's meant to be right and then you know and again one and then you were able to Actually come in and see what we did like a real life Yeah, like, uh, you know just behind the screen or behind youtube So you actually able to come in and see us putting paper to pen and plan a strategy out And then now obviously with us working together, uh, you get to hear the conversation about the things that we're working on moving forward Yeah, no, it's it's it's crazy. It's been a it's an insane journey, you know No, we're just getting started, but we just get started in fact today we connected One of our students who won the contract in africa. You know what i'm talking about We just connected her with another potential client of ours that uh does base management contracts to go after something Over in africa for base facilities management. So we're gonna we're gonna get to tanzania So don't worry. We're gonna get there. We are going to get there. We're already in africa We're gonna do a base management contract in africa. So tanzania where it's next africa's the move man We're gonna we'll get there. We'll get we'll take you there. We'll take you back Hey gubcon family visit gubcon edu.com for course information Find out how you can get enrolled right now for one price annual subscription For all of our dozen plus courses and offerings visit the website gubcon edu.com


The U.S. and Republic of Korea navies are currently working together in Exercise Silent Shark 2015. The exercise, conducted in the waters off Guam, provides an opportunity to use anti-summary warfare assets and strengthen ties between the two nations. USS Mitchell recently received the honor of steaming alongside the replica Concord-class frigate Le Hermoyne of the French Navy. The original Le Hermoyne frigate has a history intertwined with the birth of the United States as an independent nation. The Navy's Transition Assistance Program has received a makeover. Transition GPS or Goals Plan Success is the new comprehensive program with an updated curriculum that includes financial planning, understanding VA benefits, and workshops. And finally, the Space and Naval Warfare System Center Pacific is working to incorporate Hollywood movie technology into the fleet. Their battle space exploration of mixed reality lab is testing how virtual reality can transform sailors' jobs. For the whole story, visit a.mil and for more stories like these, visit navy.mil.


Dear students, in the last session, we were doing a revision of cash flow statement. We have already done cash flow statement. Those who are seeing the video for the first time, I will request you to see the earlier videos, where in cash flow statement has been dealt with in detail. In the last session, we had again done a bit of revision on cash flow and started solving a case on crompton creeps. Let us continue with the case. But before that, a brief recap, so what do you understand by cash flow statement? What does that statement give you? This is a statement, which shows the flows of cash categorized into operating, investing and financing flows. Operating flows represent day to day business activities of the concern. Investing are the flows related to fixed assets, investments or receiving of interest dividends. Financing flows are the flows related to raising of funds by an entity, so they represent issue of shares, issue of bonds, taking loan, repaying loan, paying dividend and so on. So cash flow statement gives all flows of cash categorized into investing, operating investing and financing. With this brief background, let us look at the case carefully. We have done it half way through in the last session, so I would continue from there. But those who are new, who are seeing it for the first time, please have a look at the case first. So initially, we were given the balance sheet of crompton creeps for two years. Then some extra information from PNL account, please read the problem carefully. You can take a print out of the problem from the web course, from the website and then solve it along with me. So here two years data is available and some extract from PNL is also available. Now how to start solving it? Can you think over how to start solving it? We look at the difference. So we calculate the difference between the two years figures, because usually the difference represents flows, particularly for the balance sheet items. Say for example, unsecured loan is 8, it has become 0. That means the loan to the tune of 8 crore has been repaid during the year. So that should be marked as a flow. So we will calculate the difference. What is the step number 2? In step number 2, we will mark the difference as O, I or F. So we categorize it into operating, investing and financing. We also mark it as inflow or outflow. In the last session, we had done it in detail. So let us go to that marking. Please see it carefully. So we started with share capital. It was anyway 0, so it was marked as xx. Payment and surplus was marked as O, because it represents the profits and it is inflow. Secured loans minus 8, so marked as F out, unsecured loans marked as F out, out means outflow. So because that repayment of loan of 3 is an outflow for the company, so marked as F out, gross block, I in, because you can see there is a sale of assets. So cash must have come in. So it is marked as I in, depreciation was marked as O plus, capital work in progress marked as I out. Now I will not repeat all the markings. Please see earlier video wherein we have discussed why these mark items were marked in a particular way. If you look at P and L items, most of the items are marked as xx. Now why they are marked as xx? Because they do not actually get reflected in cash flow statement. I am not saying that they are not flows. For example, when the sales turnover happened, company would have received cash or when the manufacturing expenses are paid, company would have paid cash. But under operating items, we directly take profit. We do not take each item individually. That is why for convenience they have been marked as xx. So keep in mind for operating items, we follow an indirect method. One more thing for this P and L items, the difference is not important. The current year figure is important. Now let us go to the next stage now with having marked all the items into OIF and now we go for preparation of cash flow statement. This is the format for cash flow statement. It starts with operating activities. The first item is profit before tax. Then adjust for non-cash items, adjust for non-operating items, adjust for working capital items. The total gives you the total cash from operating activities. Up till this we had done in the last some. Now to calculate PBT, we are not given directly the amount of PBT. So we had to make a working note. So I have a look at working note. For calculation of PBT, we started with increase in reserves. Then add tax, add dividend gives us PBT. So PBT was 643. Then we adjusted for non-cash item that is depreciation which is 5. Then we added, we went to non-operating items, we have only one non-operating item that is interest received and it is marked as minus 28. Then adjust for working capital items. So each of the current assets and liabilities should be marked, inventories it is minus 443, sundry debtors minus 225, loans and advances is plus 2151. Why it is a plus figure? You will realize that inventories have increase. So increase in inventories is a outflow for the concern. It has a negative effect on outflow. I do not mean that actually when the inventory increases the cash goes down. These are the year end figures but during the year because the inventories have increased they have led to negative impact on operating flows. So it is marked as minus 43. I will specify it for more clarity. So we have increase in inventories which is minus 43, then increase in sundry debtors which is minus 225. But when it comes to loans and advances you will realize that there is a decrease in loans and advance. So it is plus 2151. I am going little slow because many times in operating flows there is a confusion. Investing and financing you will find it very much straight forward. Next is current liabilities. If you go to balance sheet you will realize that current liabilities have actually gone up. So increase in current liabilities represents also increase in cash. Now why is it so? Increase in current liabilities. Why does it represent increase in cash? The fact that there are current liabilities means we have paid lesser cash. So an increase in current liability means the availability of the cash at the end of the year will increase. That is why it is a plus item. In case of provisions you will realize that there is a decrease in provisions. So it is very similar to current liability. A decrease in provision will improve the cash availability. So the increase in provision will improve the availability. In this case the provisions have gone down. So company has paid more money. So it is minus 251. Now using all these information we have got the total of cash from operating activities. It is clear to all. Please solve it with me so that the things become more apparent to you. Now what is the next heading after cash from operating activities? The next heading represents cash from investing activities. Now we have already marked in the balance sheet what some items as I. So have a look at balance sheet. Look at which items are I items. You will see that mostly the asset items are marked as I. So here you have a gross block which is marked as I. Should we take the current year's figure or the difference? That is 1366 should we take or 259 we should take. You should not take this year's figure for all balance sheet items. The difference is important. So we will take 239. Let us take each item. So gross block is 239. You will find that the gross block has gone down or there is a sale of fixed asset. Now this sale of fixed assets is it a inflow or outflow? This is an inflow. So I marked it as 2 plus 239. Now next item marked as I is capital working progress. You can see the capital working progress has increased from 48 to 58. So there is a difference of actually it should be 10. There is a rounding error I have marked it as 10 now. So there is an increase in capital working progress 10. Should it be plus or minus? It is a negative item because any increase as you know means the cash has been paid out. So it is a negative item. Next item which is of I category is investments. You can see there is a increase in investments. Increase in investment is to the tune of 271 minus 271 it is represents an outflow. Any other I item is there. You can see I items in the balance sheet are over but down below there is an item interest received. So you have 28, 21, difference 7 we have marked it as IO. So it is an I item. How much I should take here? Should I take 28 or 7? I should basically take this year's figure that is 28 and the interest is received. So it is an inflow. So I will mark it as interest received and inflow 28 it is a plus item. So go back to PNL and balance sheet. Now is any I item remaining? Have a look at all the items. You will realize that all items are over. So we can make a sum now of cash from investing activities. So how much amount you are getting now? Try to do it with me. So it is minus 14. Are you with me? You will see that in case of investing activities we follow a direct method. So it is very easy to understand that the fixed assets have been sold. We have received money. So we have marked it as 239. Working capital has increased, investment has increased, we have paid money. So it is minus 10, minus 239. Interest is received. So company has received money so it is plus 28. So actually investing and financing items very easy to do. Operating there was a problem because we followed indirect method. We started with tax, made some adjustments. So keep this in mind. That operating must be done by indirect method. For investing and financing it is very simple. You can directly mark the items under those categories. Now the third category. So what is the third category? Third category is cash from financing activities. Again go to PNL and balance sheet. Have a look at all the items. See which items were marked as F. You will see that from liabilities we have two items secured and unsecured loan 8 and 3. The loans were repaid. So they represent an outflow minus 8 minus 3 because it represents outflow. Is there any other item marked as F throughout? Just see it carefully. You will realize that second last item, interim equity dividend was marked as F. So the dividend has been paid. So basically it is an outflow. Shall I take 90, 141 or 51? I will only take 90 the current year's figure. So interim equity dividend I will add paid for more clarity. And this is also minus 90, it is not plus 90. So this is the total of cash from financing activities. So you can see we have taken three activities operating, investing and financing. Have we left any item? Have a look at PNL and balance sheet systematically. I think one of the items is left out. Next I would like you to tell me which item is left out. Look at everything carefully. You will observe if you look at the PNL and balance sheet you will realize that all items in balance sheet have only one effect. They were marked as OFI and so on. Just check whether everything has been accounted. So we have taken loans. We have also taken gross block, depreciation, capital WIP, investment, inventories, debtors, cash and bank we have not taken because that is to be taken subsequently. Then loans and advances, current liabilities, provisions, mind well every item had only one effect. PNL most of the items were XX but the few items which were there have two effects. So interest received was taken as IO. Since interest is received it is an investing in flow but it was reduced from PBT. Interim equity dividend it is a financing outflow but it is added for calculation of PBT. Tax paid is a unique item. It is OO. So it is added for calculating PBT and it should be also shown specifically as reduced for the amount of tax which is paid. So that aspect we have left out we have yet to discuss. So current year's tax of 172 you can see once we added it I have wrongly taken 142 you can see it is 172 actually. You can look at the PNL the amounts are 172 233. So 233 is for last year we should take 172 of this year. So where will you show this 172 in the cash flow statement? It was marked as OO because it is an operating item once it is added to calculate PBT it is deducted after all operating flows are calculated. That is something we have not yet done. So we need to do it I will insert a few columns few rows I am sorry those of you are doing in pen and paper you cannot insert it really. So we need two more lines we have already calculated cash flow from operating activities but it is not correct calculation is in a sense that this is before considering the tax. So I will just qualify it cash flow from operating activities but before tax. Now from this I need to deduct tax paid. The tax paid is 172 and after that I get the final cash flow from operating activities. So it is not 459 it is 459 minus 172. So you will get 287 as the final cash flow from operating activities. So we have started with operating activities we have gone by indirect method. So we started with PBT then made all the three adjustments reduce the tax. So we got 287. Next where investing activities the sum is minus 14 then we went to financing activities the sum comes to minus 201. Now we have all the three activities already recorded. So let us take the sum the total amount of the activities. So we have three flows which if you sum up you will get 172. So this is the total cash generated. Now how do we cross check whether it is correct? Go back to cash and cash equivalent which was categorized as C item. You will see that we have opening cash of 151 and closing cash of 321. So there is a increase of 170. This increase is basically being explained by making a cash flow statement. So we add opening and closing cash equivalent and show that all differences have been properly explained. So now to this cash generated you add the opening cash and cash equivalent. This is cash and cash equivalent as on the big as at the beginning of the year. So as on 142011 we basically had 151 in the beginning and at the end we should come to cash and cash equivalent as on 31 March 2012. So you will realize that we are getting the difference as required. There is a difference of 1 or 2 rupees that is basically because of rounding error but otherwise 172 plus 151 we will get the closing cash equivalent as 321. Is it clear to all? Any doubts? So we will go to the next case now. Once again I will advise you to solve it with me that will make the things easier for you. Now this is a problem of Dr. Reddy's laboratories. Now this is the second case for Dr. Reddy's laboratories comparatively it is a very easy case than the one which we did just now on Crompton Greaves. Those of you had some doubts I hope they will find this problem easier. Please have a look at the case systematically. We are given 2 years data for March 10 and March 11 from their PNL and also from their balance sheet. Of course from balance sheet the whole balance sheet is available PNL only some extract is available. Now how to solve this problem? We are asked to prepare a cash flow statement. The first step is we need to find the difference. I hope all of you remember in the last some we have done it. So first is try to find the difference between the 2. I have done it already. What is step number 2? Mark each of the item as O, I or F and also as in or out. In out because it can be either inflow or it can be or outflow. So let us start with the first item that is share capital. Should it come as inflow or outflow? Should it be marked as O, I, F? Actually it is xx because we are going to look at equity and preference share capital separately. So we need not consider total share capital. But we will look at equity share capital. It will fall in which category amongst O, I, F? It will be recorded as F it is a financing item. You can see the total capital has increased from 84 to 85. So increase of 1 it is a financing item. So it is F is it in or out it is an inflow. Company will receive money they will issue shares they will receive money. First item total share capital also you can mark it as F and in but do not mark both the items. Since we are going to mark equity share capital we have not marked total share capital. Next is reserves and surplus in which category will it fall O, I, F? It is O because reserves represents profits. So the fact that the reserves have increased means the profits are earned. So I will mark it as O. In general I can mark it as inflow basically I will use it for calculating PBT. Secured loans you can see there is no change. So we will just ignore it mark it as xx. If there was a change it would have been which category? It would have been F. Secured loans you can see have gone up from 562 to 1444. So there is an increase of unsecured loan we will mark it as F and it is in. Company has taken new loans. So it is F in the total ignore it xx gross block. Now we go to applications of funds we have already considered all sources of funds. Now let us go to applications of funds the first item is gross block means fixed assets at cost. So it should come in which category O, I, F? It should be I it represents an investing item you can see the gross block has increased from 24, 262, 3025. So is it an inflow or outflow? This in the gross block happens because we have paid cash to buy new furniture or machinery or plant and equipment. So it is an outflow. Next is accumulated depreciation it is an O item we would mark it as plus because it is added for calculating operating flows. Plant block just ignore it investments it is I as the name suggests these are investments investments have gone down. So it is an inflow or outflow it is an inflow company has received money by sale of investments. Inventories it is O item inventories have increased. So they will have a negative impact. So we are marking it as minus since operating items are not in the direct method you may not call them in out. If you want you can call them in out but I find it convenient if we mark them as plus or minus. So plus represents addition to the cash flow minus represents reduction of the cash flow.  So it is again O minus cash and bank balance that has also gone up. So is it O minus? No just mark it as C it is not a flow it represents the balance of cash.  So it is very similar to data's so it is operating item and actually it has gone up. So it has a negative impact on cash so O minus fixed deposits you can see carefully it is given in the problem that this fixed deposits are cash equivalent. So what to do in such cases since they are cash equivalent you should mark them as C right. If cash equivalent word would not have been there what will we do if they just give fixed deposits what will you do normally fixed deposits can be treated as an investment. So you can mark it as I if it is a short term fixed deposit you can treat it as a current asset in this case it is given fixed deposit cash equivalent. So we treat it as cash equivalent and mark it as C is it clear. Now total current assets loans and advances X X we need not consider it current liabilities how will we consider again it is a O item. Now the liabilities have increased so what will be the impact on cash it is plus you can see what happens is the liability has increased means company has paid a lesser amount that means the availability of cash will go up. So it is O plus it is exactly opposite of a current asset. So something like inventories we put O minus now we are putting O plus provisions you can see provisions have gone down. So it is O minus because decrease in the provision means more cash has been paid. So it has become O minus total current liabilities and provisions I have marked it as X X because that is a total net current assets yes again X X because it is just a general item. Now miscellaneous expenses a very peculiar item where will you take it you can see miscellaneous expenses have gone down from 340 745 to 570 this is a very tricky item where should I mark it is it O I or F it should be marked as O. So what has happened is these were some losses which were not written off earlier so in last year the balance was 745 now it has been written off and it has come down to 570. So it is just like provision for depreciation as we are writing off our fixed assets we are writing off these as these losses which are called as miscellaneous expenses. Now the balance has gone down so similar to depreciation I will add it for calculation of cash from operations. I do not mean that I have received cash since we follow indirect method in O it needs to be added to PBT because it has been provided for when the PBT was calculated. So it is O plus now they have given contingent liabilities here you can see contingent liabilities have gone down so it should be marked as nothing it is xx it is just off balance sheet item it is not a part of any cash inflow or outflow it is only a disclosure made. So mark it as xx book value again an extra disclosure we do not need it right now so mark it as xx sales turnover xx ignore it because we go by indirect method for operating flows so ignore sales turnover dividend income shall I mark it xx again no. Because dividend income is a income on investing activities or the investment made it should be marked as I it will also have an impact on O because it comes in P and L so please mark it as I O is it an inflow or outflow since it is an income it is an inflow. Raw material consumed xx it is operating item I do not write operating items individually so xx power and fuel again xx employee cost xx interest interest is not xx this interest represents interest paid. So it is a financing item F and you also mark it as O all P and L items will have 2 effects so for convenience we are marking them as I O or F O dividend income was marked as I O here this is a interest paid on loans taken so it is F also marked as O it is an outflow selling and admin xx miscellaneous expenses xx keep in mind these miscellaneous expenses are from P and L account whereas in the balance sheet miscellaneous expenses which we had we have already marked it. Now look at all the markings once again I hope they are all clear to you if you have marked the items correctly then rest of the work is very simple now just like in the last problem for crompton grieves we can go for preparation of cash flow statement I am copying the format for convenience I request you once again to do along with me now this is not for crompton grieves this is a problem of Dr. Reddy's so let us change the company's name Dr. Reddy's laboratories we are making cash flow statement for year ended March 2011 here the first working note which we had to make was for calculation of PBT same thing is true for this problem also from the reserves you can see that there is a increase of 105 then dividend paid and taxes paid was not given in this is not given in this problem you can look at the P and L account there is no item like dividend or interest paid. So, we will ignore those items that is why in this case though we have a working note we do not need that way the working note the PBT is same as increase in reserves that is 105 next is depreciation look at the applications we have gross block accumulated depreciation you can see is increase by 2 to 4 so that much will be added here keep in mind here in this problem we have got one more non-cash item in the last case of crompton grieves there was only one non-cash item depreciation in this case we have also have miscellaneous expenses return off that also needs to be recorded here miscellaneous expenditure return off you can see there was a last item in assets how much amount we should take 570 or 175 we should take the difference because what is written off in the current year needs to be added back to calculate the cash from operating activities. So, we will take 175 then next is non-operating items in the P and L we have got an item called dividend income 137 that is a non-operating item. So, this represents the income on investment so it should come as an investing flow apart from that we have also reduced it from operating flows so we should record it as minus 137 since this income is already added for calculating P and L calculating the profit now we are reducing so it is minus 137 now let us look at each of the working capital items you can see here inventories they were going up by 166 so it is O minus so inventory is 166 daters is 710 I will try to copy both the items together so it is minus 166 so minus 166 please try to do it with me minus 210 now the next item from P and L sorry from working capital we have taken inventory we have taken daters next item is loans and advances it is 343 I will paste value only in this case it is minus because the loans and advances have not decreased but it has increased correct so if you look at the balance sheet once again we will realize that inventory daters and loans all of them had increased so our marking was O minus same thing has been recorded in cash flow statement we will not record fixed deposit because it is a it is a C item now go to current liabilities which is 21 and provisions is 81 so plus 21 and minus sorry 82 plus 21 and minus 82 there is a increase in current liabilities which means the cash availability also increases so it is plus 21 there is a decrease in provision so it is minus 82 so all the working capital items are over now we can go back and check if any of the O items has not been dealt with just look at it carefully so we start with reserves then accumulated depreciation inventories sundry daters loans and advances current liabilities provisions miscellaneous expenses all are accounted every time you also solve a case try to cross check you can put a tick mark there then there was one item IO that is dividend income that has also been accounted so one more item interest I think this we have not accounted so this represents interest paid it is 10 16 minus 6 so how much shall we record we should only record the current year figure which is 10 and that is f o so it is a financing outflow we will add it for calculating operating activities so we had here non operating items please insert a column there in the last problem we are interest received now we have got interest paid we should not take the difference we will go back again so for the additional item we are not bothered about 6 what we are interested is 10 same way for dividend income also we should take 117 just check if you have done it correctly so it is not 137 it is 117 and here we should take 10 is it correct for dividend income we said minus 117 but for interest paid we said plus 10 so we have recorded all items nothing about tax was given so tax paid we have recorded it as 0 if you take the sum of all the items you can see that minus 883 is a cash from operating activities now let us go to investing and financing activities so look at the balance sheet and P and L carefully and concentrate on the items which were marked as I so one of the items you can see is gross block difference is 599 in this case it is not the sale but it is purchase of fixed assets 599 should it be minus or plus it should be minus because it is a decrease of cash then we also have we do not have any work in progress here then we have investments which is I in 191 there is a sale of investment there is no interest received but there is dividend income of 117 now dividend income is an inflow so it is plus 117 here so you will get negative 291 as a total of investing activities the last category is financing activity very simple look at F items so you will see that there is equity capital difference is 1 this is a issue of shares so it is plus then secured loans there was no difference but unsecured loans increase of 882 so it is also representing an inflow there is no entry for dividend given just check there is one item for interest paid of 10 should it be plus 10 or minus 10 should be minus 10 because it is an outflow so we get total of 873 now the structure is ready so 883 291 and 873 cash generated is minus 301 look at the cash and cash equivalents we have two items here cash and bank balance is 6648 and we also have FD which was 320 now it has become 0 so cash equivalent in the beginning was 48 plus 320 and cash equivalent in the end represents only cash and bank balance which is 66 so 301 368 we get 671 is due to rounding error but otherwise all the items have been correctly dealt with look at the problem once again any queries you can look at the earlier video where more details have been discussed overall today we have to we have tried to cover the case on crompton grieves and we also started and completed case on doctor reddy's laboratories I hope with this now the concept of cash flow will become much more clear to you so we stop here thank you so much.


I mean, I know some people that put 100% of their savings into gold, but again, there may be something that we're not seeing correctly that we can't foresee that may happen where gold may depreciate very quickly. You never know what the next plan is of the ones that are in charge. But I will conclude here. Any questions? Any questions or concerns? Okay. Start here. Well, like I said, I enjoyed the speech, and the history was great, which I've heard before, but some of the unique things was a lot of the stuff about the development of into Roosevelt. Even when gold took a dip, because that's one of the arguments you hear for gold from 1971 and all that stuff with Nixon, and you were touching on it, and I'd really like to hear about it more, and I think these guys will stimulate it with their questions to what is the importance of us in a healthy economy? Because like what you're saying is, it's probably not going to get good, you know? And what is the importance of us in a healthy economy, and what's the one thing that we could do good, which you were touching on it, but just if you could be more specific with it? Sure. So are you saying, well, hold on, keep the mic on. Are you saying that what's important, how can you protect yourself in the future? What do you mean the importance of us in a healthy economy? Well, I heard the gold thing, but I think also, we're walking in, well, I don't know, you would know better than I, but from what a lot of people are saying is we're walking into an area where, or a period in time where the economy is not going to be great. Right. And it's going to get worse. There will be another crisis. Powers that be are not in our favor. So what's the point of having a healthy economy? I don't know if we're going to have it. Right. And so what's the real alternative? What are the steps you're taking? Okay, so again, so we will have another crisis. It's going to happen. And it's going to be bigger than the last one. And it's likely that the next one will be a sovereign debt crisis where everybody, basically bad private debt was taken over by the government and by the taxpayers.  So people lose confidence in the currency. So currencies go down in value and there's a lot of inflation. Some people say there could be deflation, but it's going to be pretty bad either way. So I would say if you are in certain industries like finance, which is what I'm in, that's going to be an industry that suffers quite a bit. Let's talk about where the monetary system could go. My hope, and there's a lot of solid economists that would say things could go this way, is the world would go back to a gold standard. Of course, the current banking interests do not want this to happen. So that's one avenue that could go where we could go where the people are allowed to exchange in gold again, legally.  So all you can do, I mean, I can just say from being from Russia, from the Soviet Union, where there was a lot of inflation, I can just say that people, we're living on borrowed time here. Things are too easy, and they won't be this easy eventually. They'll be harder, because we are using our dollars. We are sending them to China and to our own Federal Reserve who's printing us more dollars, and that's what we're using to live on. That's why it's so easy. That's why money is relatively easy to come by here. We've all got loans, we've all got car loans, and we've all got home loans. So I will just say it will get harder eventually. I'm not saying tomorrow, I'm not saying next month, two, three years out, at least, probably going to see some of these big problems. All I can say is people will need to pay down their loans if you're not a business person. You're going to pay down the loans as much as you can unless you can always, you have so much in savings that you can pay your loans no matter what. Then you want to have theoretically as many loans as possible. The reason is if you're paying 5% of your loan now and inflation is 9%, you're actually making money on your loan. You should only have a loan if you don't need it.  But if you're barely affording to pay the loan now, consume less, pay off the loan and whatever savings you have, again save it in the types of currencies that are going to hold their value and types of commodities that are going to hold their value which would be gold and silver. All I can say is it will get harder and the dollar is going to continue to lose value. Am I answering your question? I'm not. Basically what could we do now and what ways could we invest in gold? Well if you were able to move to another country for an enterprising, or if you're an enterprising individual. My favorite would be Switzerland, Singapore, Hong Kong. China is great if you don't care about speaking out but if you're a business person because you can start a business, I mean walk down the street start a business, they don't care. Here it's very regulated, especially depends on what kind of business you want to start. We're dying in a sea of regulation here. If you want to be an entrepreneur, move to a country which likely has a great future. When people were coming to this country, they were not looking forward and saying, man look at all that debt out there, it's beautiful, I love all that debt that that country has, I want to go over there because they have a great future. They were seeing prosperity, they were seeing real economic growth. So where is that now? That's in the emerging markets. So I would say China, some of the other Asian countries, again there are problems and I'm not saying they're perfect but if you want solid economic growth, look there. They're also fee at currency countries but actually Switzerland is trying to reinstate a gold standard as a parallel currency, it may happen, it may not. So in Europe you're saying Switzerland, South America anything? South America, Argentina is good, Chile maybe, there's a lot of up and coming countries there but again you have problems there with less developed capital markets, so you have to know the culture really, so that's the rule of law. Go ahead. What makes gold better than silver or platinum to have for an investment? Well the reason gold is better than silver let's say is because silver is much less valuable. So I have silver and gold let's say for my savings because you can have silver and lower denominations. Gold, silver is also tied to other industrial products. So the price of silver will fluctuate more with the economy. Price of gold really fluctuates with the money supply. And another thing about gold that you have to understand is if rates ever go up to where there's a real interest rate, right now we have a negative real interest rate, that's why gold keeps going up is if you hold dollars they're going to lose value. If you hold dollars and put them into a CD that's making you 2%, if inflation is 6% and don't trust the government number, CPI of 2.8 whatever it is, I would say it's much higher than that. But whatever real inflation is, if inflation let's say is 6%, then you're actually, you have a negative real interest rates. For holding dollars you're losing money. So that's why gold as well because just by holding it you don't have to get an interest rate, you're making money. Now why did gold go down in value when Volcker came in in 1980? The reason it went down in value so much is because he raised interest rates so high to where you could use a regular currency, you could put it and get a CD and that CD if it makes you 20% and inflation is 12%, you're making 8% on your CD. So gold competes as a currency with fiat currencies. So that's what's going on. And right now gold is out competing. Gold is beating the fiat currencies and does that answer your question? Platinum and gold, why would gold be better than platinum? Well of course platinum is even more rare. So your gold really has that perfect balance between rarity or scarcity and there's enough of it to really go around. Platinum is more valuable and more rare. You could hold platinum, it's just never really been used as a currency. So you could hold it to preserve value. Platinum is also tied to industrial use as well because it's used in catalytic converters and a few other areas as well. So it's going to fluctuate based on other factors. Gold is really more tied to money, fundamentally, does that answer your question? I have a question here and we're going to expand this so you guys can hear. One I'm very passionate about this and thanks for coming to this event and speaking. It's awesome. When I hear someone say what can we do, yeah buy more gold. I wonder if you couldn't help and comment, maybe it takes it too political and maybe that's not where it should go. But when we say as Americans how can we empower this change, isn't it lie within our vote? Well so great question by the way and of course the man that you've probably heard of all of you that a lot of people think is a quack is Ron Paul. He wants to go back to the gold standard, I love the man. There's probably two men that I love, it's my father and it's Ron Paul. I really love this man and the reason he actually went and ran for Congress, he ran for Congress in 1971, it's not a coincidence. He ran for Congress in 1971 because of Nixon closed the gold window and he was watching the news and he was a doctor of course and nobody cares and he said people just sleepwalking through life. Nobody understands how important this is. So he saw 40, 50 years down the road what was going to happen and that's why he's so consistent because that's all he's ever said. He wants the country back on a gold standard.  It's all financed by this printing of money and that's why gold is doing so well because there's less and less of it. The financial markets understand because the people that are in charge of money that are bidding up the price of gold understand what's going on. Does that answer? So the true power remains in our vote. Exactly, yeah. I would say the problem with the Constitution is it gives power to tax and the power to judge which are really the two core powers to the government. So eventually it just takes over because without those two powers it couldn't but with those two powers that so eventually the US government has really been able to, the US has been so prosperous so far is because of how weak the government was. But at this point it's become so powerful, so strong that it's starting to choke off. You know, freedom, so that would be how I'd look at it.


Hi everyone, Joe for Jaspy's CaseGrakes.com, coming at you with a brand new release, 2021 Panini Contenders Draftpix Football 2 box, random pack break number three. Everyone gets a random pack, so we're gonna label the packs with their numbers, and then we'll randomize names and pack numbers and see who ends up with what. First, let's select a die and let's see which two boxes we're gonna do. So we'll go one, two, three, four. So one, two, three, and four. I'm going by Rose on the dice roll. If I roll a five or a six, I'll just roll again. Four, one, two, three, four. Bottom two, easy. Boom, we'll save these for next time. Open up the boxes here, and we still haven't seen autos of the top-level rookies. I guess technically all of these players could end up being top-level rookies, right? But let's just say we haven't seen any of the popular name first-round rookies. We have not seen that campus ID card yet either, which I think generally falls one per case. Now we got that out of the way. Let's flip back to this screen right here. Big thanks to this group of people here for getting in on the action. Appreciate it. And there are the pack numbers right here. Let's roll it, let's randomize names and numbers. Hard four, two and a two, four times. One, two, three and four. Got Jason down to Fouad. Two and a two, four times for the numbers. One, two, three and four. We got nine down to 11. I think we'll do this one numerically. All right, so Jason with nine, Mark, with one, Mike, with six, Darren, with eight, Michael, with four, Eric, with 12, Michael with seven, Darren with 10, Gordon with five, Darren with two, Joe with three and Fouad with 11. Let's sort this by number numerically and let's print out labels for this and then we'll get the break going. Obviously, if you're watching the replay of this, you can fast forward through this a little bit of housekeeping here. This just makes it a little bit easier for the shipping team. It gets shipped out to, ideally, a little bit more quickly. Draft, FB, football, random pack, number three on this one. Nikolakov, yeah, that was wild, wasn't it? I was stunned. At first I thought that it was just gonna be a plate and not an auto and I thought that person was gonna get shorted an auto. But nope, pretty amazing. Mark, we're gonna start with you. I think Mark only got one pack. Yeah, so first one for you. Good luck.  The autograph is gonna be, is gonna be Forest Merrill. Wow, that's a big dude. So I'm pretty sure that that's height and weight right here. Six foot one, 338 pounds. Oh, I can close my draft window here. 2021 NFL Draft. Just wanna know where he ended up. I think Forest Merrill not drafted, but let's see if he was picked up by, not that it matters, but I just wanna learn these guys. I think I see him associated with the chargers. All right, there you go, Mark. So since this is just a random pack break, we did all the label work here. It's gonna go right into the shipping queue. Nice, next. Pack two, I know Darren has a couple here. So Darren, here's pack two for you. See what we got for the Porterhouse steak. Got it. Got Garrett Wallow. Linebacker out of TCU, college ticket autograph. Garrett Wallow drafted in the fifth round by the Texans. Let's keep the Porterhouse steak pile over here. Joe Jordan picked up one pack, pack three. Oh wait, it's back. See that? There's the auto. It's gonna be Dwayne Eskridge, college ticket autograph. Dwayne Eskridge second round pick. Wide receive out of Western Michigan. Second round pick went to the Seahawks. So the hawks of the sea adding to their receiving core. Second round receiver. Giving Russell Wilson some more weapons as he runs around. All right, thank you, Joe. I know Michael picked up a couple packs right here. Let's do pack four for you first. And we have, we have Puka Williams Jr. 44 out of 99. Campus ticket autograph. See where Mr. Williams goes. Puka Williams, not drafted. There was a Javante Williams, Avery Williams, or Darius Williams. Just out of curiosity, where is Puka Williams? He's with the Bengals. With the Bengals. Signed as an undrafted free agent. Was first team all big 10. As a freshman and sophomore. Set yours over here, Michael. Gordon, you're up next. Pack five for you. There's his arm right there. It's She Smith. Ooh, and a Cole Beasley. Conference ticket card down there too. She Smith, sixth round pick. Went to the Carolina Panthers. And then we got Cole Beasley, 69 out of one at 99. Thanks again, Gordon. Appreciate it. My fobby. Pack six. Trevor Lawrence. There's a Zach Wilson school colors card. And behind them is Alex Leatherwood. Future Hall of Fame offensive lineman. For my Raiders, 57 out of 70. College ticket, ticket stub autograph. Nice. All right, thank you, Mike. All right, back to Michael. Pack seven. Good luck. That's part of this group over there. We have from UCLA. We've got Osa Odegizua. Nice, where did Osa end up going? He went from a Bruin, turned into a Cowboy, third round pick for the boys. There you go. Thank you, Michael. Darren, another one for you. Pack eight. And we have Texas Tech number nine, T.J. Vacher. College ticket autograph, going your way. T.J. Vacher looks like he went undrafted. But now I think he's with the Cowboys, according to Wikipedia. Kind of a big dude, 66215. Yeah, signed as an undrafted free agent. And Darren will see you for one more pack in just a little bit. Jason, you're up. Jason Parsons with pack nine. What's this? Ooh, is that the campus ID? They usually fall one per case. It is. Nice, that's really cool. Jalen Waddle, campus ID. He's being reunited with his Alabama quarterback in Miami. Where did, what, what ended up being his draft position? Sixth overall. When's the last time we had two receivers go in the top 10? Jamar Chase went five and Jalen Waddle went six. And then Devonta Smith went 10. Could be a great draft class for years to come. What else we got here? And there's your auto. It's Patty Fisher. All right, so that Northwestern linebacker did not look like he was drafted. Hey, no worries, Jason. I have no idea what those, what the value on those campus IDs are, but they're rare and should be a pretty great, should be a pretty great receiver in the NFL. Patty Fisher is with the Carolina Panthers. All right, Darren, you're up next with your final pack, then Fouad then Eric. All right, thanks again, Jason, for getting in. Right, I feel like a lot of people did think that Devonta Smith was gonna be the first receiver taken. Darren, your final pack, pack 10. Thanks for grabbing a few, good luck. Yeah, Jason, next time you're at the University of Alabama, you should go and use that campus ID to see if you can get into the cafeteria. All right, what do we have here? Here's the next autograph. It's gonna be Zach Wilson. Wow, out of 10, two out of 10. Just one off the jersey number. Darren the Porter House stake coming up big. That's nice. This has been a nice case so far. Fouad and Eric, let's see if we can find you some nice stuff as well to close it all out. And back here we've got Woop. I'm gonna go Woop Filior. Was Woop drafted? Woop was not drafted, but he is an undrafted free agent with the Vikings now. I think his given name is Mr. M-I-S-E, Mr. Elias DeAngelo Woop Filior. I love that name, quite a name. Fouad, you also have Jarvis Landry to 199. 125 out of 199. All right, and last but certainly not least, Eric.  There it is, there's the autograph. Sort of a burnt orange color there, what do we have? Yeah, it's a bit of the Miami orange. Greg Rousseau, I think he definitely got drafted, right? Oh, Gregory Rousseau, according to Wikipedia, went to the bills, buffalo! That was their late first round pick. So first round autograph going your way, Eric. Thank you very much. And thank you everyone for getting in. We got two more boxes in the store, check it out. I'm Joe for jaskyscasebreaks.com. I'll see you next time for the next one, bye-bye.


Phil and Ted's USA is recalling 54,000 Me-2 tabletop clip-on chairs. The Me-2 chair is an infant toddler chair with a nylon fabric seat and a metal frame that clamps onto tables using two metal vise clamps. The upper part of each clamp rests on the table top and has either a rubber pad on its underside or a rubber boot covering the clamp. Missing or worn clamp pads allow the chairs to detach from a variety of table surfaces. This poses a fall hazard. Also, when the chair detaches, children's fingers can be caught between the bar and the clamping mechanism. This poses an amputation hazard. Phil and Ted's and CPSC have received 19 reports of the chairs falling from different table surfaces, including five reports of injuries. Two reports of injuries involve children's fingers being severely pinched, lacerated, crushed, or amputated. Recalled chairs do not have the black plastic spacers between the crossbar and the clamp. Stop using these chairs immediately and contact the company to receive a free repair kit and revised user instructions. Customers who previously received a repair kit from Phil and Ted's with only rubber boots should stop using the chair and get the new repair kit. The old kit provided by the company did not include all the parts necessary to prevent the fall and amputation hazards. CPSC is still interested in receiving incident or injury reports that are directly related to the Phil and Ted's Me Too Clip 1 chair. Please tell us about them by visiting saferproducts.gov.