A sizeable chunk of that "net loss" is Pericles/Madison's salaries of $300k/year, which they obviously haven't received for the past few years given they've had no income. And they can't really get a dime of that until they get something going here. They also extinguished something like $2.5 mil from Dutro debt. $16 mil is in accurate as well, the last fins were way less than that IIRC. On paper it looks worse than it actually is. No income, but not too much actual worthwhile debt either unless I'm missing something.
That being said, they have had more than enough time here, and my trust is completely gone. Zero. If this ever gets bought out or they get something going, it can blow up huge again given the way they've taken care of the ticker - and I will jump back in if they have a proven business plan.
No excuses, no sympathy. They need to get sht done.
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