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KGIC Inc LGLTF

Consumer Defensive Education & Training Services
"KGIC Inc is an educational organization based in Canada. The company owns and operates private English as a second language school, career colleges and community colleges in Toronto, Vancouver, and Victoria."


GREY:LGLTF - Post by User

KGIC Inc > Must read what LOY Managers said
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Comment by kim2015on Jun 11, 2015 5:59pm
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Post# 23822160

RE:RE:Must read what LOY Managers said

RE:RE:Must read what LOY Managers saidI stopped believing LOY news releases any more after reading their news releases of Record Earning, Record Growth and bright prospect, followed by a $20M loss.  

Please go back to their past 2 years of news releases which were pure promotional.  They can even call this fiasco a bright prospect of future?  Can 14 great schools prosper with no cash to meet payroll?  Give me a fxxking break.  According to their Q1 report they are burning $2M "cash" operating losses PER MONTH!!

They had only $5.7M cash as of Q1 March 31st.   Bring out your calculator.  What is the cash balance of $5.7M cash minus $2M cash of burn rate x 3 months?  in case you couldnt figure this out the cash balance is no more than $1M in the bank as of today and BMO is on their back and called their line.  Read the breach of convenant note in page 5, item 1 (b) of their Q1 report.
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