The debt levels have become high but I suspect the dividend will...

The debt levels have become high but I suspect the dividend will be sustainable without increasing/rolling over borrowings as long as the business sees sufficient growth.
$7m loans due this year I believe with $11m operating cash flow (assuming similar to 2017), a $4m dividend payout, and $8m cash on hand. Doesn't leave much to play with but I guess that's why it's going cheap. Worst case I see is that they reduce the dividend or increase borrowings to cover it.