They lost a lot more money than they made at the end of the year. They would have been ahead with the smaller revenue with a small profit. Plus they were borrowing money all last year and hiding it until the end of the year.
By all means take the companies word for it. They lied most of last year with their quarterly reports saying they had no off the book financing, all the while selling convertible notes. The notes did not appear in the 10 Q's for the time period the notes were sold.
Market Data 
Markets 
AI
