Hopefully they may draw breath to mention Larry's current salary, Mr Happy Money's, how Mr Gray is getting along, that they might have shut down the Canada business, why they borrowed $150 mil in December at 15% for 4 years with a penalty that nobody could imagine would result in $89 mil plus razzle dazzle, repaid $20 mil in June when they could least afford it, then raised capital overnight to pay $217 mil to finish off the $150 mil loan of 6 months that had so far cost nearly $50 mil, then another capital raise of $50 mil to raise the exorbitant costs of the 2 capital raises - far out that needs explanation. Then there is the interest cost to ZIP of the $2.6 bil borrowings.
My tip is that they will focus on sales and I / we all hope that the $139 mil leg up they got as a negative expense item when they were forgiven the CNs in exchange for a capital raise which partly resulted in the $150 mil 15% loan with horrible results will result in something close to a profit this year. It's the only chance for ZIP to prove itself, albeit with a technicality.
CS turns to Larry just before the call commences and says 'This is another fine mess you got us into Larry'. To which Larry says 'Onwards and upwards CS, we're focused on the future'.
ZIP Price at posting:
$1.85 Sentiment: None Disclosure: Not Held
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