Maybe. Or maybe the debt is in part because they still owe money for the acquisition, and it will be paid in a few months AFTER they refile the S-1, which will happen AFTER they complete the audited financials.
It's pretty normal to have debt from acquisitions, and pretty normal to finance growth with debt provided that the revenue exceeds costs of same. The benefit of the public structure is that they can offload that to an accredited investor via a public offering once they've covered all the financial reporting requirements.
there had to be a reason for us to be able to aquire them so cheap in the first place. we now see it more realistically. the major reason for aquisition is possible benefit down the road. this is first year stuff in company. the major thing is existing facilities and future. the withdrawl of s1 and the 15-12 is imo to get a better rate for operations and going forward. let them get the info downloaded. we knew this is wip companny so lets not panic. no carnes operation comes without problems. future of company is where i wait. if i can get more cheap and wait i will
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