GREY:CRIUF - Post by User
Post by
hc2111on Jul 21, 2013 9:32pm
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Post# 21620925
Cash Flow
Cash FlowI spent a couple of hours today studying Crius. First I looked at the prospectus, which has a pretty straightforward calculation for Distributable Cash. The pro forma in the prospectus shows $1.00 per year Distributable Cash and a projected annual payout of $1.00 ($0.0833 per month) per unit.
Now I realize that the trust's profitability, and cash flow, will vary with the season. But the only operating information that we have so far is the first quarter of 2013. So I tried to find how the Q1 cash flow looked, based on Crius' Sedar report. Well, there is no statement of Distributable Cash Flow. I'm sure that somebody with better accounting skills than me can figure it out, but when companies don't produce clear statements of cash flow, I have to assume it's because they don't want investors and potential investors like me to know the answer. They talk a lot about new customers and bad luck with the weather, but I want to know how that is filtering down to their ability to continue the distribution.
If anybody understands the cash flow results for Q2, please speak up.