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Post# of 346534
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Sheepdog

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Re: Russ777 post# 337124

Tuesday, 07/26/2022 1:07:15 PM

Tuesday, July 26, 2022 1:07:15 PM

Post# of 346534
The company is insolvent according to it's own "optimistic" financial statements. Waaay insolvent.

It has $85K in quick assets and $7,400K in current liabilities. It has a negative EBITDA. It has liens and judgements against it.

A prime candidate for BK...and if so, the only question is protection or liquidation. Either way, common shareholders are wiped out. In protection, preferred shareholders take it all for themselves. In liquidation, they lose too. So which way do you think they would go?

Even the SBA would rather take the hit and just lose the money than lend us that money.

.

My opinions are what I express in my posts....each and every one of them. BUT...I was wrong once and could be wrong again sometime so do your own research and don't blame me if you are too lazy to do so.

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