Wednesday, May 22, 2024 4:18:23 PM
1. There is no clarity on how they will pay off their debt.
2. They are not regularly producing the product they were intended to produce.
3. Most of their debt is in arrears.
4. There is no clarity they can make a profit, even a gross profit because of their cost to produce the shrimp.
5. Shrimp prices are at multi decade lows, in fact, shrimp are being sold at wholesale prices imported from Ecuador at less than $2 a pound in the gulf region.
6. Their funding options are decreasing, not increasing.
7. They have little to no cash compared to their monthly operating expenses.
So that I gave you a head start, what do you think? I think my answer is less BS and more reality.
Agreed?
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