Post by
Banacheque on Aug 31, 2019 1:03pm
2nd quarter results
On the positive side, total debt down to 13.3 million and they are on the positve side of the ledger. However, most of the profit this quarter came from govenment assistance. Good to see the union negotiating and settling with a sense of reality.
Revenue still falling, at a slower rate. If that stabalizes, the business model is positoned to break even. Then, once the debt is payed off (perhaps 10 years if I'm crunching the amortization numbers right), maybe they are turning a profit. 10 years is a lifetime and that number is completely my own calculation.
Who the heck knows. Next quarter may not tell us too much, but the year end numbers and commentary will. I do find it interesting to watch, even through my personal financial losses on this one.