Cash flow positive for the month of March Expect fluctuations in the coming months b/c downtime required for the installation of new furnaces.
>> such transparency creates confusion with some folks who don't know whether to "double down" here or not
Per Mar31st'17 IBC had working capital of $2.95M.
>> they burn about $150k/month so by now their working capital is more like $2.5M, so the private placement funds (probably it closes in the next 6-8weeks) gives them some "buffer" for upgrade downtime, or hic-cup in the economy
So why raise money?
>> raise money when capital markets are good (wise)
Cash flow positive for the month of March is the best news IBC has had in years.
15% dilution & some downtime is no surprise, and little concern
directors & execs participating in the private (pleasant surprise), and glad the amount is only $1.7M (and not $5M or $10M, say for some even number's sake - that could give anyone the shivers)
experienced investment bankers know that when the number isn't a whole number - then you better start asking some tough Qs (sarcasm intended)
confidence appears to be 1yr+ out, and the hunch is that this stock will be north of .90/share