What Sly is getting at is that the margins are huge due to cost of not using film in the process is eliminated but volume due to so many players have dropped or people are ding it them selves on line.
The revenue has been slowing because of this leaving the business to bring in capital for the short fall often called a pozzi set up due to now your using debt to run the business and in time leaving the depreciation as well as the amortization and what ever asset value to the creditors pushing the debt holders.
Now you would ask your selves why would a creditor want to loan under those conditions and the answere is the depreciation and amortization tax benifit that down the road can be sold to firm that has the means to do so by having those huge profits with bigger ones comming down the road in future earnings should they pick up those unrealized assets on the books of these companies that get themselves into trouble