Clearford Water Systems Inc CLIRF

RE:Curious

[screamer99]

The company keeps a blog and there hasn't been anything notable recently.

More likely, in my view, is that the interest payments ceased and this would have happened towards the end of the most recent quarter. The actual cash from operations is around break-even when you back out the F/X movement from the debt but what's been hurting the company is the contstant need for additional capital just to fund interest payments (let alone debt payments).

It was one group of debt holders funding themselves so they've stopped with the interest payments but continue to build up the liability (interest accrual) in accrued liabilities. Look for a significant balance when they report at the end of the month. I presume they're still keeping up with the principal payments.

Something has to happen to the capital stucture. This cat has lived well beyond its 9 lives and I have no idea how this company can continue with debt financing in a rising interst rate environment.

If there was some larget contract, I would assume there would have been a press release (if it was material).