Financial lowlights (in 1,000's) as of 9/30/19. Their cash balance can't even pay their current liabilities:
This is a Company on the precipice of a collapse.
Almost SEVENTY PERCENT of their assets are "Intangible;" meaning NO VALUE other than what the Company believes the value to be. Those should be written down to ZERO.
Actually, I checked on 12/31/19, and they decided to write-down that "Goodwill" by almost 800 MILLION in just THREE MONTHS! 1.5 BILLION in just SIX MONTHS!
They have equipment that is cost basis of another billion and then a bunch of "Inventory" and other assets that have no quick realization. So that leaves 150 million of cash to service 1.140 BILLION of debt.
"Institutional holders" is a VERY relative term and who are those major institations holding large positions? And not a lot of those players are interested in a Canadian company that's highly leveraged teetering o the ledge.
No "high-flying CEO," with a quarter of brain, let alone half of one, would touch a Company like this with a million foot pole, let alone a 10 foot one. That would be a career move carrying a death penalty.
Sorry, but those are the facts. It's not only not pretty, it's pretty ugly.
The guy got beat with ILNS. If he had taken that advice on ACB, he'd be stuck with two losers - only ACB is ready for an eventual collapse, which would easily eclipse that of ILNS in terms of valuation.
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