Just Energy Group Inc. (Canada) T.JE

RE:Cash NEGATIVE $0.4 MILLION...Big difference from A.S.Meeting

[Mining_Dude]

Seasonality is a thing.  This is why businesses have credit lines..

Freedom88 wrote:

Cash Liquidity is now Negative $0.4 Million as of June 30, 2019...so they are essentially BANKRUPT in terms of Cash holdings...Yet just a few weeks back, the CEO and Rebecca MacDonald RE-ASSURED shareholders that the dividend was SAFE and that there was large amounts of cash to cover multiple rounds of dividend payouts...it's now obvious the Execs were lying to shareholders.

Check out the Replay of the Annual Shareholder's meeting in June 19, 2019 during Question period. 
https://www.globenewswire.com/news-release/2019/06/19/1871121/0/en/Just-Energy-Group-to-Webcast-Annual-Meeting-of-Shareholders.html

No wonder this time around the new CEO did not allow questions.

Also, company cap is now $442 million from over a $7XX million just a few weeks back...heading closer to fire sale for mere pennies to bankruptcy

The Execs should be held personally liable and sent to jail.


Balance Sheet & Liquidity

• Cash and short-term investments decreased from $9.9 million to net balance of negative $0.4 million as at June 30, 2019. The decrease in cash is due to the seasonality of the payments relating to the commodity business moving from winter to spring, the impact of the Texas Residential enrollment and collections impairment, the U.K. receivables impairment and the payments related to the Filter Group acquisition.
   
• Total long-term debt of $774.9 million increased from $725.4 million.