Although the rapid growth of sales of Fast and Passion is particularly delighted, after the first quarterly report of United Group in full sense was released on April 7, Contini still felt severe pressure.

According to the first quarter report, United Group's owners' extraordinary economic activities in just three months from January to March 1923, with an overall cash outflow of more than 46 million liras, while operating income is less than 10 million. The difference in the middle is entirely maintained by free funds and bank loans.

Leo has completely entered the role of assistant general manager and systematically explained the meaning of various figures to Contini: "The capital expenditure converted into fixed assets or other assets is about 28 million lira, mainly involving United Airlines' equipment, one-time land placement and engineering construction, as well as United Motorcycle's factory construction, equipment and raw material procurement, and the other 18 million is operating expenses, including maintaining the operation of industries such as Youth Daily, United Express, United Printing, United Airlines, etc. Most of them are capita fees, and some are marketing promotion fees."

The so-called marketing promotion fee is actually mostly the cost of lubrication everywhere. The serious marketing promotion is probably only involved when Milan models walk the show once. This part of the fee is not big, and Contini's accounting is also messy, but the accountants are not naughty, they understand.

"As for operating income," Leo smiled bitterly, "Except for the part that offsets each other in the group, if you didn't launch the subscription radio, you would not be able to exceed 5 million. So far, more than 4,700 new subscribers have been achieved through this activity, and nearly 5 million in one-time income. At the same time, normal newspaper distribution, aviation school training, postal transportation, and the first batch of motorcycle sales have provided part of the income. But we all know that subscription and subscription radios are completely a loss-making act, and it is only equivalent to spending subsequent income in advance."

"The profit and loss statement of the first quarter report is generally very ugly, with losses expected to exceed 25 million. I think the biggest loss is in United Airlines and the supporting Roman Samurai Club." Leo said after considering it, "They caused losses of at least 10 million liras, and their contribution was nothing more than a thrilling performance."

Antonio said with a sad face: "Young Master, don't underestimate the loss of 25 million. It will only increase or decrease in the second quarter. I have a very pessimistic expectation of the losses for the whole year, and it may exceed 100 million lira. Also, I haven't counted the lawsuits or something like asking a lawyer to sue. Is this your personal expenses?"

"My personal expenses?" Contini jumped up, "How can this be done? Of course, this is the expense of the United Group. It is obvious that I am not going to vent my anger by asking Matteoti for trouble!"

"Okay, then I'll make another 2 million."

"No, add another 10 million." Contini shook his head, "Under the pressure of the Socialist Party, the Supreme Court has accepted the appeal. I have asked the lawyers to draft a legal complaint and be prepared to accuse the Socialist Party of unconstitutionalism with the Constitutional Court, and the attack firepower of newspapers and radio stations must be fully upgraded!"

"Accusing the Socialist Party?" Leo was stunned. "Is this... necessary?"

"It is necessary. I have planned to visit the Pope late this month. The Vatican is also very concerned about this matter. I must show my due attitude. By the way, I am going to donate 1 million to the Pope. Please keep the trouble in the United Group's account."

"The financial statements cannot be made." Leo put down the water cup heavily, "that would be at least 115 million!"

Contini nodded, but what he said was shocking: "Is 115 million enough? Uncle Antonio, you didn't tell the accountant about the funding for the training of the leader's guard, the 15 million preferred stock dividend, and the newly added loan interest and count it?"

Leo looked surprised: "What does the leader guard have to do with you? This is a government act."

"The leader has taken a fancy to our black paratroopers and asked him to train a group of people, with a number of about 200 people..." Contini smiled bitterly and showed off, "More importantly, we have to bear the cost."

"Damn it, how can this be done? Isn't this naked embezzling of corporate interests?" Leo shouted, "Why don't you refuse? This time you promised him, what if there is more demand next time? Not to mention that the leader of the United Group did not invest a ligament resources, even if he had any investment, he could not take a company as an ATM."

Looking at Leo with naive face, Antonio sighed: "Some things cannot be measured by common sense. The young master wants to take the land of major cities, take government orders, have guards and armed forces, and even get loans. What if there is no government support? Also, the Prime Minister and five ministers went to Milan to attend the opening and launch ceremony of the United Motorcycle. The face of the Minister of Transportation alone is not enough; in addition, it is unimaginable to have a swaying arm with the Socialist Party, without the support of the government and leaders."

Leo was speechless: the loss would be at least 130 million or even 140 million!

"Calais, you can't continue to develop like this. The loss alone reaches this amount. The total amount of funds for the whole year cannot be defeated without 250 million yuan, and your own funds are only 70 million lira, and you have a loan of 70 million yuan, which is only 140 million yuan, which is impossible to maintain at all..."

"I have negotiated with the Army Department and the leaders in the past two days, and they have come forward to support us in obtaining a loan of 100 million lira with an annual interest of 7%.

"This is only 240 million!"

"Borrow another 60 million through other commercial channels and make up 300 million." Contini was cruel and cruel. "United Motorcycle's sales are good now, and I don't think there is much pressure to obtain loans from the banking industry."

"Even if the accounts can be kept stable this year, what should I do next year?" Leo was worried. "The loss next year may be less than this year, but I expect it to be more than 100 million yuan. Should I borrow another loan?"

"I'll have money next year...I still have some money in the United States, and then the Bank of America agreed to release part of the loan to us."
Chapter completed!