ER release
Looks like Monday before open or Tuesday pre open. Guess is Monday. We'll start a great week hopefully.
1st quarter sales were $14 Million so if we're going to do $40 MM plus in 2017, we need $9 MM Average for 2nd through 4rth quarters.
Assuming $40 MM Revs, lets look carefully at how much Operating expenses, Salary & Wage expenses (Remember just one unit A & W sold had almost 100 employees that dont have to be paid salary now),and SG & A expenses have gone down.
How much debt has been eliminated off the books. This is very important.
Look at how much convertibles were reduced.
Look for any guidance on October maturity convertibles renegotiated terms.
Look for guidance on timing of becoming cash flow positive.
Look for any guidance on their intent of going back to Nasdaq.
Look for any talk on getting traditional loans for working capital needs.
Let's look carefully at convertible notes/debs numbers March quarter end VS. June end numbers.
I expect debt numbers to have been drastically reduced with proceeds from sale of non core assets that happened in the second quarter.
These are the things I will be carefully calculating and comparing and studying in the upcoming ER.
Lastly, as difficult as things have been to look at post RS, it was almost entirely because of a handful of aggressive noteholders with a previous reputation of converting shares and dumping them into the market. We all know this will come to an end.
So with all tremendous and drastic although painful restructuring that has been executed to massively deleverage and improve the health of the balance sheet, and with surprise announcements by the company on success with getting traditional loans with better terms and
toxic debt elimination, the markets will surely cause a rapid upward correction in price.
I am a long. I have a loss in my position. I am not and never have been or intended to be a "pumper". I want all to prosper. I have put a lot if energy in defending my position. That's because I believe in the company and in this investment.
I believe things will get a lot better in 2018. The company will see a positive EPS. This is my position.
IMO
