Agreed. Those websites work off an algorithm where it takes numerical values of balance sheet and income statement amounts and it makes a "judgement" based on the snapshot of the balance sheet. Without knowing the story behind sltd and SUNworks, looking at the Q1 numbers would have anyone worried:
Total Assets: $4,213,326
Total Liabilities: $6,327,649
Total Equity: ($2,114,323)
Current Liabilities: $6,327,649
Current Assets: $1,646,126
Doesn't look like solar3d will be able to pay their bills, right? Well, looking deeper, $4,674,190 of their liabilities are non-cash. They are dilutive (there will be a cost, just not a need to pay out cash) to our ownership %'s, but a start up needs the cash more. Now, assuming the roughly 140m dilutive shares were issued and the liabilities extinguished and converted to equity - the Q1 numbers would have looked like this (this WILL happen by November 1st):
Total Assets: $4,213,326
Total Liabilities: $1,653,459
Total Equity: $2,559,867
Current Liabilities: $1,653,459
Current Assets: $1,646,126
And we add in the growth through SUNworks in the next quarters and as the notes are all converted, the balance sheet will begin to look a lot healthier as our ownership interest %'s decrease. SLTD's balance sheet starts to look a lot better and it will reflect on those junk websites where no person is actually looking at the story behind the numbers. Those who are in or are getting in BEFORE all the lagging indicators turn in our favor will be rewarded to some extent, hopefully a great extent. That 96% bankruptcy probablity should fall quickly as the balance sheet numbers look better.
p.s. If the price drops below $.057, the level of eventual dilution will increase the further below $.057 the price goes. Hopefully this is the bottom!
