Moving to the balance sheet, the company saw its cash position deplete from $6.7 million to $4.8 million. This was despite raising $7.6 million in the month of September, demonstrating how expensive the firms operation is.Accounts payable meanwhile increased from $23.6 million to $25.5 million, raising the question of how exactly the company intends to pay its bills with its current cash position. Customer deposits meanwhile fell from $37.2 million to $35.7 million. Loans and borrowings also fell, from $16.2 million to $13.2 million. Overall, currently liabilities dropped to $85.2 million from $88.5 million.The company also provided a simple breakdown on the numerous maturities it faces over the next several years, with the nearest maturity being December 31, 2020, wherein the company must settled $7.5 million in new debentures. Unless it manages to push this maturity, it appears that the company will be forced to either raise funds to pay it off, or have yet another dilutionary event at a lower conversion price to settle the debt.
So - this is not related to bashing or shorting, it's a serious question.
The facts are Zena has $4 million in the bank - and current bills increasing to $25 million. They are being sued by at least two companies for non-payment - and there would be more that we don't know about that haven't gone the legal route to collect yet.
They have to raise more money - after the last .0475 and in order to have any interest, a raise or dilution would logically be around .045 cents.
Other than the usual clowns here who can't see past sales (which also declined) - does anyone else see another way out? Lay offs, plant closures, facility sales,bankruptcy?