Interesting balance sheet:
Trade receivables jumped up HUGE. From $600k in March to $4.1 million in June. That's nearly double the revenues in the quarter and still ore than total revenues for the six months. Very odd. I bet they sold some assets and are including them in trade receievables - an odd accounting treatment to say the least. Either way, they're not getting paid. One has to wonder why. It could be the sales were right at the end of the period, or it could be people aren't paying because they don't have to (in which case it's not revenues and shouldn't be recognized as such) or they're not happy with what they got, or some even more nefarious reasons.
Payables is also HUGE, and growing. $10 million?!? For a company with less than that in revenues? What the...? They owe a lot of money and they're not paying. That won't last long if their debtors care about their $10mm.
Expect more stock to be issued especially if those receivables stay up.
Ugly balance sheet.
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