![](https://investorshub.advfn.com/uicon/394734.png?cb=1621376897)
Wednesday, December 04, 2019 6:34:15 PM
The A/R from 30 June became cash - and most of it was SPENT. Little to no new A/R accrued in 1Q20, so A/R for 1Q20 is DOWN which means less munny in DaPipe owed to AMFE/FUNN! Inventory was sold off and is no longer an asset as the cash realized from the inventory sale was SPENT. This is shown in the fins (below).
2019 annual report
![](http://investorshub.advfn.com/uimage/uploads/2019/12/4/ktmifAMFE_2019_annual_2.jpg)
1Q20 Quarterly
![](http://investorshub.advfn.com/uimage/uploads/2019/12/4/trdfnAMFE_1Q2020_2.jpg)
$331,000 in assets went POOF into smoke in 1Q20. GONE! A/R and inventory was mined for munny and the munny was SPENT, except for that small amount that was left as cash at end of the Q (and it shirley GONE by now - including that spent post-30 September on the audit - including 10 days in NYC for ________Ben the cash flow bind CFO/COO/CEO/Director).
IIRC, AMFE/FUNN sold off some of their A/R at a discount to a factoring firm to raise cash quickly. They are selling anything that's nott nailed down (and prolly stuff that is nailed down) to raise oeprating cash, because the company has an ongoing OPERATING LOSS bleeding problem.
For more on 'factoring', it's used by companies is serious financial distress and cash flow BINDS: https://en.wikipedia.org/wiki/Factoring_(finance)
"Factoring is a financial transaction and a type of debtor finance in which a business sells its accounts receivable (i.e., invoices) to a third party (called a factor) at a discount.[1][2][3] A business will sometimes factor its receivable assets to meet its present and immediate cash needs.[4][5] Forfaiting is a factoring arrangement used in international trade finance by exporters who wish to sell their receivables to a forfaiter.[6] Factoring is commonly referred to as accounts receivable factoring, invoice factoring, and sometimes accounts receivable financing. Accounts receivable financing is a term more accurately used to describe a form of asset based lending against accounts receivable. The Commercial Finance Association is the leading trade association of the asset-based lending and factoring industries.[7]"
AMFE/FUNN is bleeding cash and assets, and INCREASING (GROWING) debt.
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