Rubbernecking car crashes again but hey, we all have our dirty little habits. Anyway, first see this, the shares out chart that shows the count up by 95m after its equity placement that raised a gross of C$150m (U$120m at a forex of 0.8/1).
Then consider that despite raising that capital and making big fuss about paying down $100m of its long-term debt with the money, liabilities did this:
- Current liabilities up U$46.1m quarter-over-quarter (trade payables shot up bigtime)
- Long term debt down U$54.4m QoQ (so much for the U$100m spin)
- Other long term liabilities up U$25m QoQ (so much for the U$100m spin)
- Total liabilities up U$16.7m QoQ, to U$1.292Bn (with a B)
As for its working cap position after that C$150m injection of love…
Where did all the money go? NR here.