GREY:DLTNF - Post by User
Post by
Canadaforoilon Dec 01, 2020 10:54pm
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Post# 32015810
Read a balance sheet lately
Read a balance sheet latelyFrom Sep 2019 to Sep 2020, short-term debt has increased 186% and long-term debt has increased 58%. Yes, that is over a one year period. They are clearly over leveraged and the only way they can raise extra cash is to offer shares at a discount. Financial leverage is supposed to be used to increase revenues/profits, not decrease it. In the same period, their net income went from a 1.4M loss to a 5.8M loss. Their net operating cash flow for the quarterly period ending Sep 2020 was negative 2M. Look up operating cash flow and understand they can't even create positive cash from their basic business operations. And yes, I am a long-term shareholder waiting to cash out and get my money back. I have a feeling it will be 2024 before that happens.