GREY:LGLTF - Post by User
Comment by
Trelawnyon Jun 17, 2015 11:41pm
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Post# 23842446
RE:RE:RE:Trelawny whats your first/last name?
RE:RE:RE:Trelawny whats your first/last name?InternalAudit,
while I was writing my response I thought that those trade payables may have been a red flag.
I believe they point to an ominous future problem, and explain why income dropped so much.
The trade payables for the Q1 2014 (March 31, 2014) the trade payables were $696,466.
The current trade payables is $6.6mm - that is almost a 10X increase in trade payables. Loyalist has stopped paying people, companies and agencies.
As suppliers have not been getting paid, this is probably why revenue has been dropping- if providers, sales people and agents are not getting paid then they won't send students their way.
I haven't seen anyone bring this up - so I thought I would illuminate this point .
Best regards,
Trelawny