Saturday, April 19, 2014 2:24:57 AM
As of 12/31/13 financials, they only had $716.9K in inventory where approx $252k was in finished goods. They have approx $28k in cash and their gross profit from 2013 was $234.7k. Here lies part of the problem as to why some places may be sold out of a particular Biel product.
They owe over $500k this May to be paid in full to the Export-Import Bank of the United States (page 8 of last financials). Chances are they have been trying to accumulate the cash to pay that off.
For this conversation, I'm excluding the $822k in convertible notes that mature this year (page 10 of last financials) b/c we don't know the specific dates.
My posts are solely my opinion unless presented with (or directed to) factual information. All investors are strongly encouraged by myself to do their own due diligence before making an investment decision.
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