Apollo Healthcare Corp Warrants (03/01/2022) APHWF

Sneaking the bad news out the back door

[zalmonella]

With all the fanfare of a wet fart, management tries to sneak this quarter's report out the back door without so much as a squeak.  What a disaster!  Revenues and EBITDA less than half of the previous year, net earnings just enough to top off the gas tank of the chairman's Jag, and for some reason, they persist in the MD&A in calling thesmsevles "debt-free" when Note 10 says they still have $29M in debt due their credit facility.

Wiorse yet, not a word - not a single word! - about the disastrous loss of product due to the recall.  You can't find it anywhere in the SGA costs, nothing in notes, nowhere!  It's like it didn't happen.  So someone cut corners on a tanker-car of ethyl alcohol made in some refinery in Baton Rouge and these guys bought it and tried to sell it to Canadians.  And got caught.  But no heads rolled?  No idea what it cost us?  No transparency whatsoever?  Don't forget, the credit facility is guaranteed primarily against inventories.  How much did the inventories go down by?  What's the plan for recovery?

There'll be no support for this on Monday morning.  $2 at the end of the week, and who knows where it goes from there.   What a f**ken disaster.

[liverless]

I thought differently.  Everyone knew that with covid waning in the second quarter that revenues would be down substantially.  Especially with shelves full of sanitizing products that were stocked up over past year after shortages. Yet they still did 9c EPS and $8mm of cash flow before working capital. On a $200mm company with no debt (I don't see this debt number below?) and $40mm

[zalmonella]

I thought differently.  Everyone knew that with covid waning in the second quarter that revenues would be down substantially.  Especially with shelves full of sanitizing products that were stocked up over past year after shortages.... ...Also, the debt number I see in the statements is As at June 30, 2021, $Nil of debt was outstanding to WFI Inc. (June 30, 2020 — $16,299). 

[FinnishFlash8]

You don't have to search for the losses on the recalled products, that is deducted from the revenue. And revenue was about 10 million lower than it was for three quarters before the pandemic (Q3 2019 43,376, Q4 2019 41,797, Q1 2020 46,567)

[zalmonella]

You don't have to search for the losses on the recalled products, that is deducted from the revenue. And revenue was about 10 million lower than it was for three quarters before the pandemic (Q3 2019 43,376, Q4 2019 41,797, Q1 2020 46,567) Much appreciated!