What a rubbish article. AJX went from having cash outflow of -$2.8m and cash at hand of $3.4m in one quarter to being cash flow positive with cash at hand of $9.45m. Management has very quickly proven to be cost conscious.
Yes there's a $13.3m debt now, but principle is not due for 3 years. Near-term obligations is not a concern at all. If AJX cannot generate $4m in 3 years to cover this debt than I'll happily see my shares go down to zero (not really happily, but consciously)
It's very obviously a regurgitated article, just have a look in google:
Link to Google Search
I recommend thoroughly reading the 4C. AJX has stopped burning cash and is set for growth. The financials are actually looking a lot better and it's early days.
I'll be buying more on Monday.
Cheers,
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