Wednesday, September 20, 2017 3:27:50 PM
ROX is on the cusp of being GAAP black, but management has warned us that they may not ever be profitable.
EBITDA turned from loss to growing profit:
2012 = ($4,591,165)
2013 = ($4,803,961)
2014 = ($7,959,287)
2015 = ($484,156)
2016 = $962,532
2017 = $5,222,989
(Aging bourbon) Inventory keeps get bigger which is crucial for ROX's long term growth and profitability.
Let me quickly address a few more things you mentioned:
Cash ... for ROX their cash position just doesn't matter. It's not a measurable. Until they are GAAP black profitable with positive free cash flow, ROX will continue to use the equity markets to raise capital to purchase more inventory and to fund marketing. They are getting very close to turning that corner on an "every" quarter basis. Last year there were two GAAP black Q's.
Regarding accounts receivable: ROX turns over their inventory about 3.5 times per years. Assuming they provide their distributors and direct ship customer with "30 day terms" receivables have to be high at any given point in time.
Regarding debt: ROX has accrued a lot of long term debt. It's been managed very well. Historically, insider debt has been converted into common shares. That's what I eventually expect will happen with Phillip Frost's $20 million loan to purchase the additional 20.1% of the Goslings distribution company. Which was timed to happen just after the Walmart deal was announced.
Recent ROX News
- L'Organisme canadien de réglementation des investissements permet la reprise de la négociation - ROX • PR Newswire (Canada) • 12/27/2023 03:25:00 PM
- Canadian Investment Regulatory Organization Trade Resumption - ROX • PR Newswire (Canada) • 12/27/2023 03:21:00 PM
- Suspension de la négociation par l'Organisme canadien de réglementation des investissements - ROX • PR Newswire (Canada) • 12/27/2023 03:00:00 PM
- Canadian Investment Regulatory Organization Trading Halt - ROX • PR Newswire (Canada) • 12/27/2023 02:58:00 PM
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