GREY:SRSCQ - Post by User
Comment by
freckledon Mar 12, 2017 8:27am
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Post# 25969060
RE:RE:Cash Burn
RE:RE:Cash Burn
All valid points. However, over the past handfull or more of years, 10% or more drop in sales each and every year. The only thing keeping the company afloat was their wealth of properties to sell off to maintain cash flow. Combined net income losses for the past 4 years was 716 million dollars.
They have merely managed debt by selling off assets. Latest year results should be out any time soon. Fact of the matter is eventually they will run out of stuff to sell off. I don't see them turning a profit any time soon.
2.7 in revenue doesn't mean squat if you haven't turned a profit for well over half a decade. No bankruptcy this year or next. But share value? I will still contend under a buck by the end of the year. The day traders will have a fun with this one, but any medium to long term investor - no great appeal for this company.
Like I said, financials will come out soon and will probably show a loss have as much as year ended 2016. But that is no cause to celebrate - this company is becoming a mere shell of what it once was.