Third Bench Inc (THBD)

[tigerpac]

Third Bench is so heavily leveraged right now that banks won't give them new loans. They have to sell off some Accounts Receivable at a 22-26% discount in order to raise quick cash. That pretty tough to swallow when your gross profit is only 35% and your net operating loss is -5%.

TB needs the cash raised from the offering to get out from underneath their debt burden. Yes it will screw the existing shareholders but they are already used to it. After they raise whatever cash they can get, reverse split the stock.