TSX:ACX - Post Discussion
Post by
auburn2 on Oct 13, 2020 3:10pm
A Quick Refresher on the Latest Balance Sheet
$24.58 million of current assets. Just $6.31 million of current liabilities. Long term debt is only $5.94 million. Shareholders' equity still is $54 million after all the recent impairments. They're getting assistance from both Canadian and American COVID-19 programs.
In Q2 2020, it recorded the benefit of $637 from the Canada emergency wage subsidy, and Cathedral expects to apply and receive further benefits until the program expires. In third quarter 2020, the company expects to finalize the portion of the U.S. paycheque protection program (PPP) that will be forgiven. The company currently estimates that approximately 70 per cent of the loan proceeds ($525 (U.S.)) may be forgiven, if the U.S. Treasury guidelines for forgiveness are met.
Market cap is only $5.6 million.
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