11% annual rate is more than 8 million a year in loan interest.
“ Quarter 3 2021 Results
Total revenues for Q3, 2021 were $22.0m, which compares to $32.0m in Q3, 2020, a decrease of $10.0m”
This company’s revenues could sustain that type of debt if its profit margin was very high and if it had no other expenses.
“ Operating profit for the quarter was $2.8m, which represents a decrease of $6.3m compared to Q3, 2020 and was attributable to lower revenues and gross margin offset slightly by lower indirect costs and higher other operating income.”
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