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Level2Me

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Level2Me

Re: The Seeker101 post# 1978

Thursday, 05/14/2015 5:19:44 PM

Thursday, May 14, 2015 5:19:44 PM

Post# of 8328
The have revenue. The problem is negative cash flow quarter after quarter. More projects doesn't mean more income, in this case it's actually more losses.
They can't keep going like that forever, sooner or later BK is unavoidable unless they can fix the financials.
Major red flag though is this: Majority of backlog was eliminated via cancellation of jobs, not via installations. Also they don't sell anymore.... So they will finish all their current jobs, cancel the rest... then what?
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