Post by
shneps on May 03, 2022 8:50am
Financial Disaster
That pretty much says it all.
Liabilities are more then 3X the total assets.
Revenue did increase slightly but gross profits went negative (that is not a business). Selling products for less then they cost. Disaster.
Comprehensive losses increase over 7X.
$10M+ in losses for the year.
Stick a fork in it, it's done.
Comment by
gardy on May 03, 2022 12:04pm
Yes they have a lot of work to do and it will take a massive turn around to become relevent. They do have one thing going for them and that's they have the best product. I own many pcs of their line and I also own Lulu and RYU is a better product period. Some of what I own I have had for years and it looks as good as the day I bought it. Gardy
Comment by
shneps on May 04, 2022 8:42am
https://ceo.ca/content/sedar/RYU-20220503-News-release-English-9fd0.pdf Boy, there's a kiss of death for you when the CFO "resigns" and the CEO takes over the position. Nothing like having "the fox in the henhouse".