SalariesIf each of their employees has a salary of just $40,000, then salaries alone would have eaten into the company's cash hoard to the tune of $600,000 since the company's quarter end on September 30th.
Of course money is coming in, but the company has other expenses.
The company lost $6.7 million in Q3 on revenues of $3.7 million. SG&A expenses alone were $7.6 million during the quarter, up from $5.9 million the year earlier.
Where's the cost cutting?
What is management doing?
Ask yourselves this: Why are Selling, General, and Administrative expenses up $1.7 million when revenues are down $2 million.
Why are they in fact almost exactly double the revenues? ( $7.6 million vs $3.7 million )
The company has blown through all their remaining cash.
It has no access to the financial markets.
It's only a matter of time before the doors close and you only have one person to thank.