house broker : "..little room for error", page-3

Or you could read it as:

COOL’s recent financing initiatives, we do expect cash flows to improve henceforth, with potential upside from the strategic partnerships and/or asset sale process that is underway.

Income Statement 2011 2012 2013E 2014E 2015E
EBITDA (24.0) (24.0) 2.9 11.2 34.8

Depends on how bitter and twisted you are about this share. Laters