your comments on the accounting
are right on the mark , no excuses, this process was not managed well, hopefully all the issues are behind the company.
the comment on debt is not well thought out , to the extend operating facilities are permanent it is a cheap source of quasi permanent capital , read prime for 85 percent of receivables, that is an important asset.
ebitda is just a term , to be more precise i look for freely distributable cash, there are a number of accounting entries above the ebitda line that remain hidden that are non cash items.