RE:selling assetsAgreed Geo, sounds like a desperate attempt for cash. Why else sell your equipment only to lease it back?
The cash cow that was supposed to be Calyx in Cali is producing a lot of revenue but not much profit and whatever profit they are creating is going to service EAT's debt facilities.
This company is full of liabilities.
Also, can't fully remember the terms but something about if the trading average goes under 25 cents for a certain period of time, the new acquisition they have in Nevada, the share price used for consideration drops and they have to issue even more shares...which means more dilution.
This company is going nowhere fast. Posner needs to be fired.
Once the federal situation is resolved, the best hope for this company is to be bought out, otherwise it will just fade into oblivian
geodcan wrote: raises lots of questions. Illinois and now manufacturing equipment. Sounds like a need for cash. I'm hanging my hopes on the V.NU deal which is supposed to have infused energy style products out in November. Hopefully this is a real deal and not another EAT flop. Up a little pricewise today probably due to the midterms. Lots of speculation that the FED issue will be dealt with after the midterms and Jeffie Sessions might get put out to pasture.
EAT better have a hook in because when the US goes legal, everybody and their dog will be in the fight for marketshare and we don't have a record of getting anything done quick. glta and dyodd