I would think a private equity group would be licking their chops at this possible steal of a company. You can not dilute when you have not filed your statements and then any kind of reasonable numbers in the 4th will help. The 4th quarter maybe their saving grace. Personally RS needs to take ownership of this company and really drive the OEM in an SSD deal it sounds as if that is what Vector is for and personally that needs to be his personal goal for this company and its needs to be a real deal. If he cannot obtain that in 6 months they need to sell the company.
Guys, he's said this multiple times since he took over as CEO. Unfortunately the only thing that matters when it comes time to raise cash (very soon), is how much they'll need & who's willing to give it to them?
Best case scenario is that they are able to pay down the WF credit facility & are able to negotiate a new $60M facility they can use, until they become profitable.
Sounds like there's room to decrease inventory a bit. As long as they're close to break even that should allow them to continue to pay off the WF line of credit.
Also mentioned they could sell off the PSU division, but that'd take a while to find a buyer.
you're right they need cash NOW which is why you can be sure they will report on time by the 28th. He talked about being open to a buyout if it made sense and talked about another new controller due out by the end of the year so it seems hes not worried at all about getting cash or going BK.