No cash crunch: There is a lot of debt, however, there is apparently lots of cash, that is what a cash crunch is NOT. It appears the debt is all current. By the way, how did the debt get so high, was there a big purchase, or some such?
Financials: That's all we have to go by. Aside from what they garble, you must look at the numbers, and what they actually file with S.E.C., because that's what lawsuits would be based on. What I see is a very complicated and difficult fianancial landscape cluttered with "reserves" and liabilities, and with no clear unified view of the company. Maybe this is a prime example of how NOT to do a multi-national?
Quarterly rush: In many firms, there's a quarterly rush to find the numbers. They need new systems, it appears.
Summary: an interesting speculation. While debt-to-equity is high, and "goodwill" dwarfs stockholder equity, it appears a going concern. If they ever get their s*** together and turn a profit, the stock could easily take off.
Recipe for improvement: hire somebody to figure out what the financial situation really is, and cut costs to match income. If not, cut the daggone dividend. Funds and institutions are already bailing out because of the stock price, it can't get much worse.
Look, by the way, for even lower prices before end of year, if you can stand it, might be a buying opportunity, with care and balls.
Good luck in your present layoff situation. Don't count on finding a job anytime soon, imo.