RE:RE:RE:RE:RE:NR this weekFor greater clarity, the excerpt of the update you posted was issued mid-July. Q1 financial results issued mid-May show $5 million in common share private placement coming in and $1.6 million being used for paying a revolver and $2.2 million used for paying part of the term loan.
In Q1, they generated about $13 thousand in cash from operating activities so their revenues would have to increase significantly in Q2 to be able to pay down a significant amount of remaining current debt, all things being equal with respect to timing differences between ARs and APs, and the cash balance feeding various other working capital requirements.
Someone can advise if I am missing something big, but we are a couple of weeks away from Q2 statements which will constittute the next most detailed state of affairs as of a couple of the end of June.