Monday, April 29, 2024 2:53:34 PM
YEP, no company can continue on year after year losing money. At some time sales must be able to support the ongoing operations of the company. This has lost money every year in business. (over 20 years) They have stayed alive due to dilution (25 BILLION shares) and loans. Those loans are ALL still outstanding and allowed to be such, due to WHO are the loaners (mostly family). Those loaners do not consist of banks or any reputable loan companies because this company has no collateral that a bank would require for the massive amount of debt that this company has amassed. Capital Companies that loan to businesses require stock as collateral. How MANY shares would that require at this very very LOW stock price? So THAT is out of question. Staelin is NOT family but how long will he continue to throw good money after bad. Everyone has a breaking point.
So again, NO company can continue on year after year losing money. Sales will have to cover operational expenses AND still be able to pay back that over $12,000,000 in loans due.
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