OTCPK:SBMSF - Post by User
Post by
rocknroll2008on Apr 03, 2012 5:45pm
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Post# 19755197
Not a pretty picture
Not a pretty picture Cash burn from ops in 2011 of $2.1 million. For a clearer picture, you should back out the one-time gain on the sale and leaseback of their Calgary plant booked at $3.7 million, so they actually burned almost $6 million.
The new credit facility is at 18% (24% for the bridge loan). That’s as bad as my credit cards.
If a friendly deal with Greentech can’t be done in four months, then IMHO it ain’t gonna happen. At least not at 36 cents per share.