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Monday, November 16, 2015 6:04:03 PM
1. On Page 24, the Gotama debt-conversion is again explained. Someone involved with VHUB is greatly to be praised for having negotiated covenants which allowed the company to force conversion at the level of 15 cents per share.
2. Operating cash flows would have been positive if not for the increase required in inventory to cope with the growing sales. Once cash flow turns positive, short term debt should finally show declines.
3. The company continues to assert that they'll need more money and they're looking for whatever suitable debt or equity may be found. Back in May, we saw a solicitation letter from the company, and it would reduce uncertainty (thereby making the stock more attractive) if the company would issue a progress report on how the search is going. I'm not counting rollovers and increases in short-term debt as being responsive to this matter, as short term debt is both expensive and ("doh") only short term.
It will be interesting to see what the press release will look like. The truth really is all the "spin" that's needed here - and the truth is that this is a rapidly growing company, which is being well managed (I haven't been that complimentary until now), and that doesn't have a lot of "goofy" transactions with its directors (in fact, the main thing the leadership is doing is personally guaranteeing loans).
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