RE:RE:RE:RE:RE:ALL BAD - XLY JUNKwell they have at least 50 Million in cash and cashable assetts Yes we both know its not a great company we both know that but there not going to run out of cash by end june is my point and if they have another decent quarter they may actually stay solvent what would really make an interesting story is a document of the original 16 LP companys that they owned or were involved with and where each one is now and also where did the over 315 MILION in CASH go like whats the accounting of that money Poof gone but where when how why who etc
indoubtgetout wrote: Hey Predawn, go back to school. Inventory is NOT CASH especially "work in progress:! What is "other receivables"??? Its $7.5 million and no accomopanying note the F/S? This is material. Deposits, they burned through $7 million in deposits plus $20 million in cash and some of the $25 million in monies they raised during the first quarter. Work in progress inventory - I'll bet over half that work in progress inventory is worthless and has been recorded as "work-in-progress" inventory for a long time. The management and board of XLY cannot be trusted. The are HOPING that things pick up to mask over their terrible financial mess (and past and present overcompensation). Management salaries, bonuses should be significantly cut and board member fees reduced to pure stock compensation. If they really believe XLY will be successful then they should be prepared to get compensated through the stock price going up - not cash from shareholders.