whats covid got to do with it? they are using covid to compare this post covid perf to make themselves look better - any idiot can read straight through it...!
1st qtr and you're already -$22m down!! what will plug this funding hole??? DEBT. full stop. NEGATIVE operating cashflow. THE MODEL IS broken.
they got "crafty" and stuck $16m lease payments under another CASHFLOW category:
to mask the fact that this would actually be -38m operating cash OUTFLOW. -$38m in 1 quarter. YOU EXPECT SOME1 TO PAY FOR THAT KINDA "PERFORMANCE"....
as i said, GOOD LUCK - youll need it! get your wallet ready....!
UGLIEST BS EVER:
A) THE ONLY REAL "ASSET" YOU HAVE IS INVENTORY. THATS IT. WHICH OF COURSE, YOU HAVENT PAID FOR!!!! $116M INVENTORY, VS $201 TRADE PAYABLES.....HMMMMM....WHY THE MASSIVE $85M GAP??? BECAUSE YOU SOLD THEM AT A LOSS SO CANT AFFORD TO PAY THEM BACK. YOU CANT CAPITALISE SUPPLIER PAYMENTS OR OFFER THEM WORTHLESS SCRIP!!!
B) YOUR CASH BALANCE IS REALLY BOPRROWED MONEY....
C) $42M CASH (BORROWED) VS ($427M) IN TRUE LIABILITIES.....NET NEGATIVE EQUITY TO THE TUNE OF HUNDREDS OF MILLIONS
HOW ARE YOUR ACCOUNTS BASED ON A GOING CONCERN, I HAVE NO IDEA....AUDITORS SHOULD BE SACKED!!! THIS SCREAMS ADMIN....
whats covid got to do with it? they are using covid to compare...
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