SEC should investigate this company. They had 19Million Cash at the eand of last
year. Then they received settlement from YHOO about 12Million. They have reported that the Capex for last year was 8 Million in the current press release. That should leave them with a balance of more than $10 Million in cash. On top of that they have realised a $21 Million from the promoter last quarter as part payment for the 80 Million dilution. I dont know how this all adds up. On top of it they have a debt of $20 Million on the books.
Has anyone had a chance to go thru the SEC filings to see whether they have paid up the pension for all the employees to the government.
EVry quarter they show a loss and Cash positive from operations for the last 1 year. So the cash should be growing even if you burn $8 Million for Capital expenditure.