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Spartak

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Spartak

Re: Toxic Avenger post# 45881

Tuesday, 05/11/2010 8:19:58 PM

Tuesday, May 11, 2010 8:19:58 PM

Post# of 86719
Accrued expenses and any liabilities are classified as debt. But, yeah, I should have netted them against assets. Still the company is MILES away from being "debt free". Many miles.
Patrick should pay off (even with shares) high interest generating liabilities ASAP as interest expense is soaring. For less than a year unpaid interest went up whopping $263,994 comparing to April 30, 2009 quarter. Overall IE was whopping $906,888 (740% increase comparing to the same period year ago) for 9 months! That's unacceptable.
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