RE:RE:Re-no newsSeems like another round of financing is around the corner to, "shore up our balance sheet," based on the latest PR.
Positive operating cash flows in Q4, which is good, and suspect the auditor will ensure year end has more write downs to fluff assets on the balance sheet seeing as the historic broader B2B model ambitions connected to those intangile assets, etc. has failed completely and we're left with the equivalent of human mascots dressed in ridiculous costumes working on the streets to entice old people to come inside for a slice of pizza.
I'm sure the mascots did well in Q1 as well, and we'll need that to continue for years to come to salvage anything out of the $58m+ earnout acquisition costs for AmAFF and failed business verticles. I think the best that can be hoped for is that the balance sheet is cleaned up by:
- Write downs to cra* assets that are a joke and are an eyesore to anyone that reads them
- Good Q4 and upcoming Q1 performances, and perhaps coulpled with a modest PP, the elimination of the remaining high interest debt in Q2 and ability to ride out quiet Q2/Q3 periods
- Commitment to sustained good stewardship going forward based on lessons learned from the past.
Should be a small stable company without the need for any more raises after Q2. Keep it small and steady with actual returns for shareholders and potentially sell it as a B2B tuck in acquisition to someone else after another year or two of proven performance.