So short of cash that they need a bridging loan before they receive more free cash from the government.And this just after equity financing occurred earlier this year.
$2 million liability excluding interest and charges, which makes this loan alone equate to a 10% debt to cap. ratio.
Crazy.
Perhaps the management could take a haircut if they can't manage effectively enough to ensure that at least the government handouts and equity financing activities are enough to keep the lights on.
So short of cash that they need a bridging loan before they...
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