Don't forget, only about $2 million was generated by the newest 15 branches last year.
With revenue declining $80,000 in the first quarter and $100,000 in the second quarter 2015 a year after low margin accounts were supposedly "culled" (and with twice the number of branches) all that supposed positive cash flow is completely meaningless with more and more notes not getting paid.
32 branches total for 2014
26 branches going into the 2nd quarter 2015
$4.4 million in toxic obligations converting at .00006 and less and at least $4 million due by the end of this quarter. All of it is due by the end of November and Command Center is getting their day in court.
I'm thinking there will be only 20-25 branches left by the end of this year with more closures next year.
So much for ever breaking $24,000,000.
RS/BK on the way.
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