Kontrol Technologies Corp N.KNR

NR this week

[Mostlyserious]

Should get one.  There is material information to be provided.

[okgonow]

and what would that material info be ??? a meme with a football player perhaps?

[Mostlyserious]

As at March 31, they had $7.6 million in current assets to cover $15.7 million in current liabilities, of which $9.8 million was a current portion of term loans.  Financial analysis 001 will tell you that this is an illiquid company with a very high rule of thumb of needing $2 in current assets for every $1 in current liabilitie (disregarding whether any inventory items can be converted into

[whaler83]

Corporate Update Since January 2023 the Company has reduced its debt obligations by approximately $4 million. The Company remains in compliance with its secured lender, including interest and principal payments and operating with EBITDA profitability (earnings before interest taxes and depreciation). “We continue to operate with fiscal discipline and generate sufficient cash flows to operate

[Mostlyserious]

Thanks.  The $4 million came from the $5 million private placement and that update has been provided a couple of times for this $4 million.  It is one thing to be on top of the requirements during the FBA, but that FBA is over at July 31st.  So, what's the new plan for aome $9 million in debt? That's material and the past corporate update does not address it. I ain't

[Mostlyserious]

For 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

[Mostlyserious]

I guess not.  Not sure if it has to be within 48 or 72 hours. Still hard to get used to lack of transparency on important stuff with this compan.

[ahkow42]

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