With Income at just $234k and production $77k,
The interest bill adds another $45k per Q obligation for every $1m drawn/used. and goes higher after 4 months.
$180k pa for every $1m drawn and $240k pa for every $1m after 4 months.
They have burnt through $5m + in 6 months since March raise. Just $70k left at end SEP as you said.
production/sales is DOWN, again.
This current $6m will cost them nearly $1.5m per annum in interest alone.
Death Spiral, agree.
Ann: Quarterly Cashflow Report, page-4
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