Ilocanuck wrote: Post by GrahamB on Dec 19, 2023 7:24pm
PYR shareholder equity
Interesting question as to whether or not, if the company liquidated what would be left. You really need to do a forensic on the balance sheet, but a couple things you need to consider, as he would have access to the assets, and what is happening currently to liquidity and how likely is it to be at the balance sheet remains intact as stated. Well, if we look at what you're saying, based on the last Financials:
Total assets are 36,842,601 and total liabilities are 30,719,912
So technically, it’s positive around 6 million
But, remember, this is from the balance sheet, and we need to look and see what those assets are.
Accounts receivable are about 12 million, and the company is already indicated that much of this will be written off. Goodwill is about 2.6 million exactly how will that be realized? Property and equipment, write up his assets, there’s about 7 million.
And by the way, if the company were liquidated, who has first rights?
In the companies own words: The Company has incurred, in the last years, operating losses and negative cash flows from operations, and as a result, the Company has an accumulated deficit of $112,100,495 as at September 30, 2023, ($93,384,858 as at December 31, 2022). Furthermore, there have been unexpected delays in the collection of certain accounts receivable from contracts closed in a prior year. This has resulted in a shortfall in cash flows from operating activities that would be used in funding the Company’s operations.
As at September 30, 2023, the Company has working capital deficiency of $6,433,575 ($1,650,709 as at December 31, 2022) including cash of $873,498 ($3,445,649 as at December 31, 2022). The working capital is net of an allowance for credit losses amounting to $9,073,254 ($5,023,283 as at December 31, 2022) sedar.com
Here is what you posted: Cherry Picked? WHAT I POSTED WAS WHAT YOU OMITTED,…
“RISK ANALYSIS
Earnings have declined by 31.6% per year over past 5 years
Has less than 1 year of cash runway
Does not have a meaningful market cap (CA$73M)
Shareholders have been diluted in the past year
Accelerating Growth: Unable to compare PYR's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: PYR is unprofitable, making it difficult to compare its past year earnings growth to the Commercial Services industry (15.6%).
making in the past we assess whether they have at least 1 year of cash runway.
Stable Cash Runway: PYR has less than a year of cash runway based on its current free cash flow.
Forecast Cash Runway: PYR has less than a year of cash runway if free cash flow continues to reduce at historical rates of 26.9% each year”.
GOOD LUCK TO THE SWINERY CHARACTERS..