Grow Capital Inc. (GRWC)

[Alan Brochstein]

From the 10-K: Total assets of $1.7mm, including $44K cash and current assets in total of just $65K and $1.5mm in property and equipment. Liabilities totaled $2.4mm (doubled during the year), including $1.2mm in mortgages and current liabilities of $1.18mm. For the year, equity went from $108K to -$707K. The mortgage notes are due by 2018 and can't be supported by the income on the projects, suggesting potential bankruptcy (or big-time dilution).