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Fortress Global Enterprises Inc - Class A FTPLF

Fortress Global Enterprises Inc produces paper pulp, security papers, and other security-related products. The company through its segments produces dissolving pulp which is primarily used for viscose/rayon manufacturers in Asia. Its business is spread across Asia where it generates most of its revenues, Europe, Canada, and International.


GREY:FTPLF - Post by User

Comment by mr1derfulon Mar 11, 2014 2:17am
230 Views
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.
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