GREY:AIIFF - Post by User
Post by
woolwichon Nov 23, 2014 2:11pm
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Post# 23156332
Survival
SurvivalFinance charges now running at approximately $150,000 per business day and accounts payables have ballooned against a backdrop of cheques written with no cash to cover (see 30 Sept. financials). The $10 million facility from Brookfield along with any receivables collected will likely be sucked into a hole with no bottom. In the absence of a new business windfall the day of not being able to meet payroll, rents and utilities must be close.
A survival plan or strategy appears beyond the grasp of the Board and senior management so owners of the company (shareholders) should individually and immediately urge the Board and market regulators to either bring in external problem-solving expertise and/or replace the existing senior management team with professionals who know what success looks like.