Debt DD: The TOTAL liabilities are currently $6,129,342, but most all of this is for game inventory ($4,825,173 Inventory / $6,384,089 total assets), which gets paid back after they sell it... and they are moving it FAST right now. See recent news
This inventory debt is the GOOD kind of debt, because it makes money... It is also calculated using the price they pay. it does not include their markup. So its worth millions in profits when sold.
Their other debts are mostly non interest bearing and/or short term loans that are being paid back with profits... They rarely dilute, but even if they had to, they could wipe the non-inventory debts off the books with only a minor amount of shares at this and higher valuations, but there is no hurry imo. They appear to be managing it well... and recently, the growth has started to accelerate.
This is older and before the 47% share reduction, but it gives you some insight into how they view toxic loans with shady penny financiers, etc... They have been a public company since 1985, but the management/business models have changed over the decades.
From the Q1 PR...
Our outstanding share count and public float with the DTC did see a slight increase this quarter to 741,043,098 and 192,859,481 respectively. This was attributable to a combination of debt reduction mostly related to audit/accounting costs, long standing funders who believe in the company's success and the acquisition (bearing restrictive legend). This is quite rare for our company to anyone that has been following for some time but was necessary to help clean up some overhanging debt and help our positioning moving forward. The company has for the vast majority always funded in-house so to speak through friends, family and close friendly shareholders and has never in the past or will in the future sign a toxic financing deal which is one of the major contributing factors to our public float being 192,859,481 which is cumulative since the company's inception in 1985. Additionally, the company has also never had to recapitalize or roll back its shares over the past 31 years and is proud to have every shareholder big or small from the past, still a part of our company today. Of the $494,297 in remaining liabilities, $239,171 is loans from management to the company and non interest bearing, sales tax payable of which the vast majority has been paid off in Q2, accounts payable and accrued liabilities from ongoing day to day business and prior audit fees which a large portion has been paid and will continue to be paid throughout Q2 as well as a convertible note to a family member of management.
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