GREY:IPRSF - Post by User
Comment by
Seadooxp1on Aug 30, 2017 2:06pm
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Post# 26638293
RE:RE:From Q2
RE:RE:From Q2
Nervous64 - your post caused me to dig a little deeper into the financials because of your comment "the interest and fees being paid is staggering"
If you look at the B/S there is $88 Mil in long term debt. Below are the rounded numbers paid for interest alone:
2015 $ 10 Mil
2016 $ 20 Mil
2017 $ 20 Mil (assumed as 1st six months was $10 Mil)
Total $50 Mil
At this rate the lenders will have fully recovered there original loan at the end of 2019 and the company will still owe $ 88 Mil!
No wonder Lanthier owns no stock and there not closing a deal. He'll just keep accumulating his outragious salary and probably get a sweetner from TEC when a deal is done.
The only saving grace in my opinion is that Vincene took most of his buyout in stock.