Randy:
I am your friend from SI that chatted with you several times regarding DRGP back in April. Check your PM's for early April.
I think you better read the 10-Q a bit more carefully. Page 4 and Page 6 refer to SIX month periods of time vs. the 3 months period of time on page 5 so I am not certain what you are exactly referring to. Here is what I can surmise from the balance sheet shown on this 10-Q.
The balance sheet shows a reduction in accounts receivable of about $122,000 and an inventory drop of about $209,000. This is somewhat offset by an increase in direct response advertising cost of about $263,000 an addition of $231,000 as a deferred tax asset and and increase in prepaid expense totaling about $228,000. Also an increase in cash of about $106,000 which gives a rough total that I can account for of a positive $633,000.
The math part looks like this:
+122,000
+209,000
-263,000
+231,000
+228,000
+106,000
=+633,000
Perhaps if I had more time I would review the previous 10-Q to find the rest of the cash but the above assessment might provide some of the details you were looking for.
None of this of course is really pertinent or could be considered a "turnaround" as far as I am concerned. Had they collected more A/R's the number would have been even higher, but again that is not pertinent.
I also understand your disappointment with the financials but, as I said previously it is not the volume of business the company is doing, but the bottom line.
DRGP is like GM, the more they sell, the more they lose.
Please don't consider me bashing I was just tring to help by answering your post where you stated "I'd be interested what some others think about this."
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