RE:RE:Q3 report and Shareholders deficit is shrinkingCapharnaum wrote: The problem is that their net cash from operations through the first nine months is negative $39.2M. That's mostly because the gain is on unrealized hedges (that they need).
They still have around a net amount of $270M in trade payables and they have $623M in debt to renegociate.
In the meantime, shareholders equity is still negative on the balance sheet.
I hope that for the sake of shareholders, the management finds a way to get out of CCAA without wiping them and get a restructure with some value for shareholders.
Capharnaum, thanks for your follow up, it said on page 19:
Liquidity and capital resources from continuing operations SUMMARY OF CASH FLOWS For the nine months ended December 31. (thousands of dollars) Fiscal 2022 Fiscal 2021 Operating activities from continuing operations $ (39,256) $ (11,030) Investing activities from continuing operations 42,821 (3,353) Financing activities from continuing operations (45,330) 61,820 Effect of foreign currency translation 1,168 (6,895) Increase (decrease) in cash (40,597) 40,542 Cash and cash equivalents – beginning of period 215,989 26,093 Cash and cash equivalents – end of period $ 175,392 $ 66,635 OPERATING ACTIVITIES Cash flow from operating activities was an outflow of $39.3 million for the nine months ended December 31, 2021 compared to an outflow of $11.0 million for the nine months ended December 31, 2020. The outflow is due to higher payments to ERCOT associated with the Weather Event, together with professional and advisory costs related to the CCAA Proceedings, offset by lower cash financing costs due to the September 2020 Recapitalization and by the non-payment of trade and other payables subject to compromise.
And, they spend $79.5m in Reorganisation Cost (it is pretty high..NO!!)
Also, the other line: Unrealized loss or gain of derivative instruments and other...I don't have a clue of what it is? Gaillard