Wednesday, October 29, 2014 12:11:46 PM
In the last quarterly report, they had $1.1 million - so they already spent $1.4 million of what they got from MP. Assuming that they spend about $1 million in cash per quarter (accounts payable can offset what they need to actually pay for some time), then by this Friday, they should only have about $100K in cash, which is 10% of what they need to get them through the next quarter.
Let's run the numbers.
Last quarter JAMN had revenues of $2.078 million. Their gross profit was $495K. They had expenses of $3.5 million not associated with cost of goods sold, so they had a net loss of $3.015 million ($400K - $3.5 million). In order to break even, they would have had to have a gross profit of $3.5 million (the same as their costs). In order to get that amount of profit, they would have had quarterly sales of $14.734 million. That's just over 7 times what they had. A year and a half ago, they sold in 500 stores; now it's 5,000 stores. They're in 10 times the stores, but sales only went up 300%.
And sales for the last 3 quarters have been flat. We're going to have a quarterly report where they won't be able to say that sales went up compared to the prior year.
For the shareholders, sure, but it doesn't matter to Rohan and Toevs; they get money from the private companies of Marley Coffee.
Exactly!
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