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deal guy

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deal guy

Re: ScottishTexan post# 63509

Thursday, 07/11/2019 7:21:42 PM

Thursday, July 11, 2019 7:21:42 PM

Post# of 68548
The first digester was not very profitable. You can see from the last set of financials ECOS filed (q3 2018) their cost of inventory (which was the digester) left them with a small margin and therefore small cash flow. MY best estimate is that their profit was likely less than $100k. They incurred more than that in rent and salaries over 2019.

Also remember Kwak fronted them the cash to pay for the digester parts from Korea through a loan. That loan would likely be repaid before they spent it on other things.

The loan was Kwak's biggest investment in ECOS.


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