GREY:FTPLF - Post by User
Comment by
mr1derfulon Mar 11, 2014 2:17am
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Post# 22306223
RE:RE:Q4 results - still $75m of cash
RE:RE:Q4 results - still $75m of cashThe earnings report is a disaster and this company is burning cash at an alarming rate. What the company has done is to temporarily conserve cash by being slow to make payment on their account payables. As of Dec 31, the company has $48 million of account payables versus only $21 million of account receivables. Eventually they will have more cash going out the door to settle the payables than cash coming in for receivables.( a net $27 million out the door. ) A red flag. This company is in serious trouble and I wonder how Chad will spin this. I feel sorry for the shareholders.