Here are the totals from the filing >
as of March 31, 2007,
we had a cash balance of $376,680
We will be dependent upon collection of accounts receivable, improvements in operating results and cash flow and/or further financings to generate cash to finance operations.
Accounts receivable, net of allowance for doubtful accounts, at March 31, 2007 and June 30, 2006, were $7,463,197 and $11,235,904, respectively. For these periods, approximately $2,588,000 and $5,089,000, respectively, of these amounts were disputed claims subject to collection litigation, primarily related to disputes over modifications of our work.
My opinion is 377k cash is NOT enough to go into hazard zone and pay workers, buy materials, you know that insurance payments for the work are super slow in coming and suppliers, employees will want top dollar cash on delivery for supplies and labour and housing and what about the insurance costs they must have to cover workers and equipment in a hazard zone, IMO they will need to hit Laurus for another 2-5 million to operate properly in a disaster zone. It is not a bash, it is just truth, I have feeling they will go to the Laurus financing center before season gets fully underway. They need it, again it is not a bash, it is business, they only have 377k cash and disaster will increase the operations need for cash in a major way, Yes I know they CAN ramp up, but they will need CASH to ramp up, and they will need it soon. IMO that is all I am saying.
AI
