RE:1st Q results And it only took you almost a month to write that - very well done, young man! Who says COVID has irreparably damaged Grade 6 education?
4CommonSense wrote: 1st Q results are heavy on outlining 'accomplishments' and, go out of the way to pat management and the 'team' on the back for the great job they have done. This is counter to a flood of negative results in every revenue and expense line item .The 6% debenture is extremely costly particularly at a time when interest rates are at historic lows. The 6% tells you the company is considered a high credit risk by lenders. The impact on expenses of $7-8 MILLION will be determental for a long time. Amongst the crowiing about the 'achievements' there is no mention of the dilution which resulted from the financing or how it did and will impact EPS and the share price. Nor is there any comment about a return to profitability or reinstatement of a dividend. The market, to date, appears to have recognized the limited upside of the stock price over the next 1-2 years. A change in senior management is needed - they can't hide behind past performance forever.