RE:RE:Still waiting for that LOC approval?IFSCA wrote "They are not going to make a separate announcement for an increase to credit, dumbass, and they have noted in the past that they do not want to incur unnessary standby fees. "
Per Doug Cooper Beacon.
"A.While we await the release of its FY21 (Sept 30) results, which should be in the next couple of weeks, QIPT has provided guidance for its Q4/FY21 revenue of $28 million. This implies an annualized run-rate of $112 million. Subsequent to its year-end, QIPT has closed 4 acquisitions (including the one noted above) that will add $20 million in incremental revenue as well as the pending LOI for an additional $14 million. This takes its run rate revenue to $146 million.
B) Balance Sheet in Great Shape to Support Growth • As per its December 16 pre-announcement, QIPT had $34.6 million in cash. Given it paid $13 million in cash for At Home Health, we believe its cash position is now ~$20 million. Furthermore, it has an untapped credit facility for $20 million but anticipates increasing that facility to $100 million. We believe such an increase could be announced subsequent to the release of its audited FY21 results."
Current cash per Beacon 20 milliion. Less LOI outstanding 14 million? = 6 million cash on hand.
Currewnt run rate 146 million including O/S LOI per Beacon. Guidance run rate for end of 2022 = 180mil to 190 mil or 34-44 million in new aquisition required to meet target.
Cash on hand 6mil
Less M&A avg.39mil
LOC requitred to meet target = 33 million.
To meet their target they either need to increase their LOC and if not approved, they will need to do an equity raise. As Cooper said, he expects Quipt to announce the approved LOC at anytime soon. Hopefully they do. It is material.
GLTA