just been looking at the debt to cashflow on this dud
Without this capital raising gpt would probably go under
They are going to raise $1.2 bn Current liabilities are $1.7bn
net cash flow from operating activities is $367m
the company knows they have a snow balls chance in hell of getting the banks to refinances so suckers are us.
check it out
Cash debt coverage ratio
The formula for the cash debt coverage ratio is a two-step process
1. Find the average total current liabilities
(Total current liabilities + total current liabilities for the previous year) / 2 = average total liabilities
2. find the cash debt coverage ratio Cash provided by operating activities / average total liabilities = cash debt coverage ratio
Let’s look at a property trust – General Property Trust (GPT) 1. Current liabilities (2009) = $1,746m Current liabilities (2008) = $1,868m Total = $3,614 / 2 = $1,807m
2. Net cash inflows from investing activities = $367m $367/$1,807m 20%
GPT Price at posting:
$2.10 Sentiment: None Disclosure: Held
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