My snapshot of CM8's debt as at 31 January 2016 is as follows:
Bank Debt 7M euros - 3 year, revolving facility
Vendor debt 5M euros - 2M Euros due in Oct 2016 & 3m euros due in October 2017, with interest paid monthly
Vendor earn out - 2.5m euros due in June 2016 (expected to be paid out of cash flow)
I don't see where the huge crunch is in terms of liabilities falling due?
The company sounds confident about the earn out payment in June.
The October 2017 payment will not be an issue at all.
If anything, the 2M euros due in October 2016 might seem a little tight timing wise. However IMO management will be well across their ability to meet this obligation. When we get an update on debt refinancing, no doubt they will mention this particular liability if it is an issue. I don't think it will be.
All IMO
What is it worth?, page-31
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