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Rockwell Medical, Inc. Message Board

  • longterm1998 longterm1998 Apr 25, 2013 7:32 PM Flag

    balance sheet looks very weak

    the company has Accounts Payable of $26 millions, all the Total Current Assets (cash including the recent $12 million, Net Receivables and Inventory) is not enough to pay off $26 millions of Accounts Payable.
    Plus, if Q1 already burned $10 millions cash, and Q2 another $10 millions, then the company will need at least $20 millions by the end of June. After that, the company still needs cash for Q3+Q4, and Calcitriol launching in Q1 next year,
    bottom line, $100 millions cash is needed in the next 12-18 months before positive cash flow from operation.
    excluding R&D, in 2010, $59 million revenue only generated 15% gross profit margin ($9 million), which just barely covered Selling General and Administrative.
    no wonder hedge funds shorted big time, each rally will bring more short. we can see

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