quarterly, page-4

Just looking through it now.

Sales are steady (down 1.5% on Q4) which blows the 2+4+6+8 = 20M sales theory out of the water.

Only $60k left in the kitty but $1M+ coming through a factoring arrangement related to Reveal's receivables. Not a big fan of factoring. Giving away 5-15% of revenues, but you'd be up for that in financing an overdraft, so it's probably the lesser of 2 evils.

My accountant tells me that interest paid is a good measure of how a business is going, and that's up from $15k last quater to $61k this quarter. I would rather see it going the other way.

On the positive side they've borrowed less and given away fewer shares than last quarter.

But still not the cashflow report I was hoping for this quarter. I'm a little disappointed to be fair.

Others?