make sure you read every word of it!! its as clear as day The general level of hope/optimism/pumping here makes me assume that the posters are the UR executives or their moms. These guys fooled me. I do this for a living, so shame on me. The last year’s worth of financial reporting tells the story, this company is over. No part of this company is cash flow positive, not even Geosys, which they keep referring to as “EBITDA positive”. Frankly, Chu probably doesn’t know the difference between positive cash flow and positive EBITDA. On top of that, they don’t even own Geosys because it hasn't been paid for yet.
Over 20 million of their debt is borrowed at 17% interest. Interest alone on that is over 3.4 million a year. Who takes those terms? I’ll tell you - People who can’t pay it back. Working capital was NEGATIVE 47 million. They admit this in their filings! They couldn’t get a financing if their lives depended on it. Period. Not even Helen Keller would finance this company. Even if they were alchemists.
It’s obvious that the investor who has been keeping them alive has been slowly turning off the taps for the last 10 months. He, like the rest of us, has finally realized that there are no magic beans or way to get off the merry-go-round gracefully! The last time he put money in, it was a measly 2 million in February because UR wasn’t going to make it to the end of May. Look at the 2019 cash numbers for proof. There is no doubt they’ve blown through that by now. Someone should call their landlord to see if they’ve paid the rent lately. I’ll bet not.
Dribbling in money to a business that has lost 120 million under the Osbourne/Chu leadership in order to live month by month doesn’t inspire confidence in its future prospects. Neither does cancelling investor calls. Why do you think the big name US investment board members suddenly left at the same time with no explanation? They figured it all out. They knew an Urthedaily financing couldn’t happen, the company doesn't generate enough cash to pay for the rest of Geosys, and Diemos can’t be sold. Those Diemos satellites are old tech not worth more than their scrap value. Those US investment guys aren’t stupid. They weren’t going to wait around for the implosion. Dead men walking my friends. Nothing to do but wait this one out. Tick tock.