It's possible they didn't hire a CEO is due to cash flow.They still have to pay Joe.Hiring a CEO would be double payout, one to Joe and a salary to a CEO .Also they have to pay off a minimum of $500,000 loan payments.Cash was up, one reason is that they didn't pay down any loan balance in the 4th quarter. With sales not being strong at this point and a loss of another tissue customer in March 2016, Red Oak will hold off until and if sales pick up.Either way it looks to me things are getting better, slowly.
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