Sunday, June 03, 2018 11:31:25 AM
There are three components one has to take in. Revenue, Depreciation, and administrative expenses that is tied to your recievables. We will get back to that on a later date.
The other is your current and none current debt. If the recievables are tied to your collateral in turn tied to your depreciation as recievables are paid then in turn they must be tied to your current debt that is directly tied to your collateral ie: treasury stock
If your current debt exceeds your depreciation charges and revenue money must be raised or borrowed to cover this short fall or the company falls into default.
If the treasury stock value is less then the current assets minus the above mentioned consideration then money can be borrowed.
If this is not the case capital must be raised by the selling of equity or debt so as additional debt can be raised. This answers the age old question did the chicken ie: “ Bank “come before the egg ie: “equity holders”.
It’s very difficult to raise equity capital if the treasury stock value already exceeds the total debt minus the assets this with consideration to your the structure of your liability ( recievables, total debt owed).
With all the said concerns you must then determine if liquidity is a concern ie: the ability to raise equity capital or additional debt.
To do this you must take a hard look at your assets and the ability of turning them too cash forcing the current debt obligation to excel because of the relationship they have too the collateral that binds the debt.
I hope this helps investors as we are entering into a very dynamic market as United States and others are implementing additional trade charges too raw commodities.
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