Ann: Suspension from Official Quotation, page-28

JUNE cash flow report shows debt from loans. However, it appears that EGS is racking up a lot of current liabilities (trades payable), which don't show up on the quarterlies. Too many IOU's and too many people/companies chasing EGS to cough up money.

We already know about:
-Hogan Constructions
-Some local laboratory
-GE Engeering
-Delloitte

The problem is who don't we know about. I wouldn't be surprised, if a few more other ppls/companies come out of the woodwork demanding payment.

I wouldn't be surprised that there would be a massive dilution (at severely discount rates, once bitten twice shy) before this comes out of the TH, just to get the EGS's finances in order.

If they do get out of trouble, will new contractors accept 30 day payment terms? If not, the work capital requirements would be through the roof.