OTCPK:CUUHF - Post by User
Post by
Construction555on Jul 30, 2020 10:05am
373 Views
Post# 31342925
No cash
No cashUnfortunately there is no cash to keep going. The company could not pay $2.5 million in interest on its debt at June 30. Had to issue shares as the debenture agreements allowed this, otherwise would have defaulted on the debt. It is likely the Q2 financial statements will not paint a pretty picture. Bird would already have access to these numbers. Company likely did not have too many options except bankruptcy where shareholders get zero. New management would not have any cash to keep going.