Cashflow (not bad)Results aren't good, company lost money, I had a feeling they are making them.
I'm correct, company made money, not a lot. Last Quarter's balance sheet had 145MLN and now 162MLN, only 17MLN, but that tells me that company isn't bleeding cash and it was a reason why company didn't drawn even $1 from $200MLN.
Shorters were saying company will draw more than 30%, didn't happen even 1%....
Cashflow is the best test to filter numbers, because companies use it to get around current and future income taxes (Donald Trump)... It creates competitive advantage in future to have a loss today, financial games... Unfortunately investors get caught in them.
Yes, I'm aware they still have to pay a earnout, but most likely it will be negotiated as total write-off or 0.50 on a $1, or something like that.
Positive cashflow is the reason why company was able to secure $330 MLN.
North American assets are bleeding, but they are still worth something; on another hand European assets are worth a lot....