The Imminent Debt Crunch?
Anyone noticed in the financials for Q2 that the real extent of debt repayment schedule has finally been revealed? Let's look at the Samsung debt because that's the one that kicks in first:
"the current schedule of 10 remaining monthly instalments of $277,000 and one monthly instalment of $291,000 has been amended to a repayment of 12 instalments of $20,000 per month effective from October 2015, followed by 9 instalments of $277,000 and a final instalment of $328,000 in July 2017".
So pretty soon, month after next in fact the company will be repaying $800,000 per quarter to Samsung and YET it claims to be financing the rebuild of Galaxy out of cashflow also. This company is going through a debt "eye of the needle". You'd better hope it makes it.