Sphere 3D Corp. (ANY)

[Hugodrax]

Most "start-ups" or "pre-monetization" plays have cash and positive working capital.

ANY, in contrast, bought Overland and assumed ALL of their crippling debt load from Cyrus and Silicon Valley Bank, and keeps borrowing more.

ANY has racked up a $30M of expensive debt


For the mathematically inclined, interest costs last quarter were $860K. That would be about $3.4M.

That is almost 15% of gross profit, just to cover interset

Seriously look at the Q:

Revenue: $18.4M

Gross Profit: $5.8M

Less: Interest: $0.860

= about $5M to cover operating expenses.

But operating expenses are running at $14M per quarter...