Third Bench Inc (THBD)

[tigerpac]

Why quote Q2 numbers when Q3 has been released?

Net operating LOSS: $3.97 million
Net Loss before taxes: $4.84 million

No more cushioning from the Employee Tax Relief Credits beyond this year.

Sales fell off 13% sequentially from Q2 even after price increases went into effect. As explained earlier they played games with inventory numbers to make prior results look better than they really were. Mostly at Santa Fe Flooring (dba OGB Architectual Millwork).

Still have almost $8 million in Long Term notes to pay off (paying off about $300k per Q) so 6.5 years to pay off at current flow assuming no more borrowing.

Then there are Preferred stockholders who really control the narrative of the stock because every 90 days they will get paid in the form of common shares.