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Dubb10

04/19/14 2:24 AM

#37117 RE: Erbb #37116

How do you figure they get their hands on 1.4 million units in a quarter w/o increasing their existing debt? Best case scenario, they can restructure their debt w/o the help of a 3rd party financier, but the R/S mule has been beaten to death.

As of 12/31/13 financials, they only had $716.9K in inventory where approx $252k was in finished goods. They have approx $28k in cash and their gross profit from 2013 was $234.7k. Here lies part of the problem as to why some places may be sold out of a particular Biel product.

They owe over $500k this May to be paid in full to the Export-Import Bank of the United States (page 8 of last financials). Chances are they have been trying to accumulate the cash to pay that off.

For this conversation, I'm excluding the $822k in convertible notes that mature this year (page 10 of last financials) b/c we don't know the specific dates.