I'm more bullish on FLN than I was before, due to the current situation and the adjustment of the SP, but this is a misleading take. Yes, FLN has $32M in cash. They also have $42M in current liabilities and $25M in non-current liabilities - lots of other assets too - for a net position that's around $30M.
Notably, while a lot of the assets and liabilities seem perfectly legit, they are also arriving at that net position by factoring in around $26M of "intangible assets" - mostly domain names and goodwill, which is... rather different than being at a net position that's $30M up due to having $30M in cash.
FLN used to be sitting on a cash pile - they have largely transformed that cash into intangibles by some not-too-amazing acquisitions. If they were to spend up their remaining cash their solvency would become dependent on a rather favorable interpretation of 'goodwill'.
Not saying they are in trouble, and you're right that they don't have nasty debts, but painting a picture that they have $30M of cash is IMO too optimistic.
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18.0¢ |
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Mkt cap ! $81.16M |
Open | High | Low | Value | Volume |
18.8¢ | 18.8¢ | 18.0¢ | $5.648K | 30.18K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 2111 | 18.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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20.0¢ | 20739 | 2 |
View Market Depth
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1 | 24692 | 0.165 |
2 | 32819 | 0.160 |
1 | 18756 | 0.155 |
1 | 33901 | 0.150 |
Price($) | Vol. | No. |
---|---|---|
0.200 | 20739 | 2 |
0.210 | 16000 | 1 |
0.215 | 34810 | 2 |
0.220 | 12752 | 2 |
0.225 | 83257 | 1 |
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