Ann: Trading Halt, page-124

Yeah working capital for the next mattress season, I think its the most likely.

They began build up for last season around this time last year.

They expected that this season will be higher volume than last year and have said as much already. No need for a new announcement.

They need WC because the loan is already pretty much exhausted. Last year the loan provided the capital.

The cash flows from last mattress season didn't arrive until mid year. But the inventory build up was over a prolonged period.

The important question for now is will the volume this year's season be enough to make them cash flow positive/profitable for an entire calendar year, rather than just a quarter or two? $12mil additional WC capital required could translate to $3mil bottom line.

I think its healthy looking but they still need big contracts in new important industries to justify SPs reached a year ago.