Jesus, what a mess. Three initial datapoints to set the scene:
- Net loss for the quarter at $1.83m
- Working cap now down to $36.2m (and the only reason that’s held together is an $8.2m line item for income tax receivable).
- Cash treasury is down $12.8m since the last quarter! Now at $17.63m and that sucking sound you hear? Yeah that’s the combo of liquidity and a financial plughole called “stupidly high dividend”.
Subscribers, expect the charts on Sunday. Meanwhile, go have a look for yourself. How anyone could have ever reco’d this dog to their readers is beyond my ken. OK, one chart here because seriously, this is spooky.
UPDATE: Ok, I’ve spotted something strange in these revenues numbers, people. More on Sunday on that score, though.