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FLN's user obligations alone are now (2022) over $A5M larger...

  1. canemcalcitro
    569 Posts.
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    28/03/23
    10:42
    Post #: 66992061
    FLN's user obligations alone are now (2022) over $A5M larger than its total current assets. Its working capital (current assets less current liabilities) is now at -$A18M. Since it's been losing money since 2013, this can't be solved by "continuing operations".

    Curious to hear what the theory is that makes this OK. Is it legit that FLN couldn't pay off its users if it had to? If FLN were to close operations tomorrow, they wouldn't be able to meet obligations that they have listed as "current liabilities". I think there's a word for that.

    I can't see how this is a company that's not out there raising money ASAP, on any terms available.
    FLN Price at posting: 21.5¢ Sentiment: None Disclosure: Not Held
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    lightbulb Created with Sketch.  Great analysis
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