A lot has happened since we got the last real numbers. Relying on any particular number as an indication of CAST's financial health could be extremely misleading including the current stock price.
Current management succeeded in regaining control over brick and mortar assets which they say are operating as usual. There was a healthy cash flow from these operations in the past which I assume is still intact. Cash flow for the school year used to be front end loaded in the fall at the beginning of the school year. No reason to think this has changed.
On a less positive note approximately $100mil in cash was apparently " misappropriated " by the recently ousted management. The company has been waging a legal battle to recover as much of this as possible. How successful they have been is unknown.
Before cash came in for the new school year this past fall the company borrowed from certain existing shareholders to finance short term needs. Warrants were issued as a sweetener resulting in some limited but not inconsequential dilution. I assume the beginning of a new school year has eliminated the need for unusual short term borrowing.
The status of satellite learning is unclear. The license for doing this had to be held by a chinese citizen who in the case of CAST was a member of former management. Whether current management has been able to obtain this very important license is unknown.
The stock had institutional ownership which is probably bailing out to take a tax loss and remove a disaster from their end of year report. Previous management had alleged a certain american member of current management favored not releasing information on the company's status in order to purchase shares cheaply. It wouldn't surprise me to find out that's exactly what's been happening here. In fact I've doubled up recently in the belief the current american led management team will buy out outside shareholders since turmoil has created an opportunity for them to take advantage of an unclear situation.
All the above is my current understanding of CAST. It may not be entirely correct but it's the opinion I have formed from what scant information has been made available. If management decides to update us with more current or accurate information that would be appreciated. Of course as I previously speculated they may wish to keep the share price depressed for selfish reasons.