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Jones Soda Co. (JSDA) Message Board

  • nuttierthansquirrellshiat nuttierthansquirrellshiat Aug 15, 2014 3:33 PM Flag

    10Q

    Enough working capital to make it to the end of the year , not figuring in the LOC...the problem is they tapped the LOC right after Q2 Ended and there's only 284k left on the LOC at the beginning of July... jones will be closing their doors soon if they can't find someone to save them.....cash burn on average is 500k a quarter ....

    from the recent 10Q :
    Subsequent to June 30, 2014, we made an initial draw on this Loan Facility in the amount of $744,000 on July 1, 2014. The balance of the Loan Facility fluctuates daily due to pay downs based on cash receipts generated from sales and increases from additional draws. As of August 6, 2014, the balance on the Loan Facility was $284,000.

    jones is losing over 5k a day before they tapped the LOC with payables and liabilities close to what 5mill and no sight of turning a profit or turning the company around....jones days are numbered...but don't worry jones PPS will still be .35 until the doors close...lol

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    • nuttierthansquirrellshiat nuttierthansquirrellshiat Aug 15, 2014 3:44 PM Flag

      the balance of 284k could mean jones pay downed some of the 744 or it could mean available balance to draw on, either way it doesn't matter ...jones is not profitable has a ton of debt through payables and liabilities ..and their first statement of having enough working capital to last to the end of the year without the LOC was not true.....they tapped the LOC right after Q2 ended , just days after the V.P of finance bailed....their now using the LOC to survive and will burn through that by the end of the year...

 
JSDA
0.375+0.0010(+0.34%)Dec 17 3:54 PMEST

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