I'm only trying to present the facts Steve. You are right about a/r, cash, credit line but, you say a/p are $1.4 mil and since i agree with all your other #ers i'll say a/p are $3.1 mil and not $ 1.4 mil that you posted or a difference of $ 1.7mil or enough to put this company in dire straits. Current liabilities are due within one yr or less so, current assets are $ 4.1 mil and current liabil. are $ 5.4 mil or a negative $ 1.3mil. I'd like to know what they are not going to pay this quarter, do they slash research and development. They say backlog is down. I hope something good happens but what i see possibly is their products could possibly be producing too much cost savings for their customers so, in the end they don't have to buy many and therefore they have no sales.
Fair enough on the numbers Sean, and the line of credit makes up the difference. So far at least the bank hasn't given them any grief about the line of credit, so they still have that to work with. They talked during the last CC about cutting expenses, but I would think they are running fairly lean already. They have been in dire straights for several years now, so it's nothing new. If they can get some orders, at least part of the inventories will move out and help the balance sheet. I have a fair number of shares in this, but am not betting the farm. Still, if it works out, I will be a happy camper.
I agree with ya, if they can sell some inventory it will go right to a/r and then cash, that's what they need and some new orders would help too. I'm out of the stock now but, i hope things turn out for them then i'll be buying at a higher price but, will be very willing. We will see much luck to the longs!!!