Check 6. We've all heard the story the company is losing money. We've also heard the story about "the execs taking bonuses" and buying "fancy cars" and "paying themselves" before profit to shareholders. H#ll, I'd pay myself too if I was running a company. No one in corporate America works for free.
And regarding the massive debt, interest and death spirals...
IHSI's primary source of revenue is government contracts. Government contracts run by the "lowest bidder." Now that IHSI has their foot in the door with the State of California and Honeywell, the company's name is now recognized as a "reliable" contract provider. Further, having bridged both State and Honeywell relationships, IHSI now knows how to better place competitive bids, what the expectations are of the State and Honeywell. Based on the losses, the last bid was definitely low-balled to get IHSI's foot in the door. Smart move if it leads to further California Title 24 and Honeywell business as purported. IHSI should not have to significantly undercut the competition to secure further contracts...and there will be more State Contracts. There are over 300 buildings requiring Title 24 upgrades.
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