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Wednesday, March 18, 2015 4:32:53 PM
But in regard to the cash situation, I just don't see where the crisis is. As of December 13, 2014 , current assets (Cash + Accounts Receivables + Inventory) amounted to about $39 million, whereas current liabilities (Accounts Payable + Accrued Liabilities) amounted to about $35 million. That means there is a working capital surplus as of Dec 31, 2014. If the lion's share of the inventory they are holding is not obsolete (without seeing a detailed breakdown to crosscheck against the hot selling products, there's no way for me to know), that inventory will be converted into cash and applied to the rather large payables figure.
I can't comment on how the working capital and cash positions have changed since Dec 31, since the Q1 financial statements are not due yet. But it would appear, from the figures on the year end financials, that the may actually be doing a fairly decent job of juggling the cash and the financial obligations.
As always, simply my opinion.
BTW, it was already about 10am when I remembered there was a conference call that morning, so I have no idea what was discussed on the call. Did anyone of this board post summary notes for the call?
How do they overcome the financial situation? They are burning cash. They are breaking all covenants on their loans. THIS IS WHAT SCARES EVERYONE. I agree with all those other things, but their cash management is ridiculous + the fact they didn't fucking explain it in their conference call...are they selling out shareholders to their creditors?
MSLP
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