Another problem – The cash balanceHad a quick look at the balance sheet purely out of curiosity since BUS is still on my watch list.
They are down to $500,000 in cash. Receivables and payables are a wash. Inventory is up to over $18 Mil and their credit facility is coming up for review Dec 31, 2019 when the covenant waiver expires.
If the Royal Bank doesn’t extend the waiver / pulls the LOC, they will be in big trouble.