Saturday, October 12, 2013 2:06:10 PM
Like with PVSP, the Chairman is making unsecured loans to keep his company afloat.
Gross margin for the Carrier Services segment was 11.9%.
Gross margin for the Business Services segment was 51.1%.
FSNN operating loss was $0.7M over $14M of revenues in the last Q.
They have 109 employees.
A bad sign, they have factored out their receivables to a financial firm, Prestige Capital.
So, if FusionTel has an bill of, say $25K, payable in 30 days, Presitige can purchase it for cash at a discount, say, a 10% discount. Fusion receives the cash 30 days, up to 90 days, earlier than otherwise.
Such factoring arrangements are commonplace for financially distressed companies.
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