RE:RE:Still waiting for that LOC approval?ISFCA wrote "Lender probably wanted to see audited results first, bonehead. "
Dah...of course they do. Idiot. Do you really think Quipts cash flow, continued no profit year end statements will give the banker a warm and fuzzy feeling? Do you really think a bank will provide a LOC of $100 million for a company with only 60 million in current assets? LOC's usually are 60% of current assets. IE $36mil
Again...They should have provided an update on the LOI's status and also they should have disclosed status of O/S LOI. This would have provided some comfort to the market that dicussion is on going and not dead in the water.Remove all doubt.
Why didn't they report the Net incpme losses in the NR? Bad news? Is not providing an update on Q1, LOC and LOI bad news as well? Hmmmmm...not so transparent are they?