From 3rd Quarter Mgt DiscussionLoans payable (including current portion) increased to $4,000,601 at September 30, 2015 from $2,309,166 at September 30, 2014.
Current liabilities increased to $8,742,276 at September 30, 2015 from $5,600,021 at September 30, 2014 primarily resulting from the increase in the operating line and the current portion of loans payable.
Since this was as of end of Sept, Loans payable has increased by another 1 million to total $5,000,000 .
Jim is driving this company deeper and deeper into the black hole of debt he created with his foolish and unwarranted decisions such as building that worthless Butt Buster plant and manufacturing product with no sales prospects. Now all those Butt Busters are sitting in inventory even though their sales value is $0.
I don't think Nordex will survive the 4th Quarter report