Just few points of interest Ya missed a few points Panther 10 this (AWSOME MONEY MAKER) failed to make a profit. Few people reading fams financials are thinking EBDITA most IMO are thinking WTF.
As to pay down of debt ( a good thing IMO ) I would point to the drop in assets in the past year. The cashing in of 600,000 of the trust fund. The rise in the AP. The sale of the cemetery land at 10 cents on the dollar . IMO this is how the 1.5 M was paid down.
As I see it Fam with no sales costs. Has exspences of 2M a quarter to operate so 8M a year . With sales of 12m after the trust fund money is backed out. With a COG sold of over 50% so 6M on 12M in sales . So 8M to operate 6M COG sold is 14M on sales of 12M. NO PROFIT. No Awsome here 10 years no profit EBDITA all you want the IPO was at 40 cents a share. This is not my idea of a good investment.
The 4M debenture is due in Jan 2016 Right behind it is a 5M debenture due in June of 2016 so 9M due with 1.5 paid and no profits.
Not to mention the Auditors caution and in Panthers last post he says with out Remco they would of gone broke, Not a ringing indorsement.
Caution is not always a bad thing Cutstone