COCO looks vulnerable and possibly a good candidate for bankruptcy. To wit:
Cash And Cash Equivalents 160,276
Net Receivables 117,609
Total Current Assets 308,531
Total Current Liabilities 200,583
If there is any issue with timing or factoring of the receivables, then the current liabilities may exceed the cash on hand, and push COCO into insolvency. Will a creditor be willing to lend to an institution in crises, facing unknown future profitability given the industry situation? Not clear. This could rachet down quickly.
Certainly the idea of buying back stock is just absurd at this stage, despite management approval thereof. They don't have the money!
Truly stupid analysis by ndavenport, just shows the current hysteria and idiocy surrounding this stock and the shorts who have flocked here and for the time being taken control of the share price. The short trade is very crowded here and the stock is very oversold.
It's pretty hard for a PROFITABLE company to go bankrupt as he suggests! Even reduced enrollments (if they even happen) will still allow COCO to be profitable.
The shorts are truly desperate when they have to resort to suggesting a profitable company is near bankruptcy.
At year end, COCO will show 100,000,000 in cash, and maybe a little over 100,000,000 in debt. How to get bankruptcy candidate from that? I think your IA senator is merely trying to shift federal tax dollars from education to biofuels and feedlots.
what a load of poop that is!
How do you figure?
Analogy: You have $100 in the bank. You get a VISA bill for $120. You have 15 days to pay it. A few people owe you $30, but you are not sure if or when they will pay. If you don't pay the VISA bill, VISA says it will seize your assets on which the liability is hypothecated.
You don't think you might have a problem?