Thank you Mike. Those numbers make sense.
I think I am not understanding something though - which is why I asked you the first question.
With short term borrowing of 11.5 million (due in less than a year), can they make generate 11.5 million in cash in one year to satisfy these one year obligations?
Rough calculations
For the quarter just reported, if I take net income of 2.48 mill add back D and A for the quarter of 1.58 mill and then subtract capex for the q of 1.28 million - I get 2.78 million.
Annualized from this q (and I know the quarters vary so this could be off) - this is 11.12 million in free cash flow over one year with 11.5 million due within one year.
I think I must be overlooking something, because this seems too tight in terms of satisfying this debt obligation. It allows no room for slip ups.
I suspect this doesn't worry the company because if their lenders see this FCF, they won't start getting pushy about demanding their debt back asap and it can be renegotiated. But don't really know what I am talking about.
Market Data 
Markets 
