Toast
Unfortunately these guys are Toast.
Don't dispute have worked hard to make it a success.
However their gross profit can't even cover SG&A.
Marti stepped down so he could continue to milk ATQ
for his severance.
San Jose was suppose to be ATQ's Great White Hope.
However obviously this adventure was mismanaged.
Based on financials they are almost technically
bankrupt.
RH Tech have got to be asking themselves how they
blundered into this Money Pit.
ATQ won't be able to do any Private Placements
because stock price is so low.
They can only depend on RH Tech for further funding.
For which of course RH charges a healthy interest rate
of twelve (12) per cent.
ATQ has almost maxed out their Bank line of credit.
Will their Bank increase this line ---NOooooo.
So it comes down to RH and whether they will continue
to lend good money after bad. It is a coin toss on this one.
ATQ doesn't even own there Mfging facilities. This was a
major error. Particularly given the low mortgage rate
environment for the last decade. At least by this time they
could have paid off majority of Mortgages and had a
growing asset on their Books. However not these guys.
They have lots of equipment. But of course this stuff
depreciates, instead of appreciating.
Even if ATQ had decided long ago to offer Engineering
Services they could have developed technology and
developed a Patent Portfolio over time - which would
have had tangible value. But not these Guys.
They can only hope that the Toaster is broken.