Look into the debt....It is not just the amount of debt but terms on when debt is due...lets look at the debt:
-Bank debt is 42m on a bank faculty of 110m....
-54m on debentures (not sure if includes interest but who cares) - due Oct 25 2025
-sub term debt 44.4m - due Nov 30 2026
-19m of sub term in the current liabiities - these are 4.75m payments
That debenture amount will move to current liabiltiies in Q4 financials as it will be due in less than 12 months....unless they refinance or more this to bank faculty.
Right now bank faculty has 68m in room and they are going to need to save that for debentures.
So basically at a minimum...they need to FCF that 4.75m payment due every q forward and not use bank faculty to pay this....
I think it is misleading by posters to say this company is remotely close to being position to pay a divy...unless that bank facutly gets increased to 150-160 range from 110m.
Bank faculty is way better debt instrument than sub term or deb.