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The $16 million is an operating loss. Look at their cash balance over the last 12 months. It's a straight decline of around $60 million a month. Keep in mind that they have to pay salaries and overhead in spite of operating losses.
$60 million/month over 12 months == $720 million.They have not seen a decline of $720 million.In fact, their total asset value dropped about $170 million over the last 9 months (their liabilities also dropped about $80 million during that time). That represents less than $20million/month.Of that $170 million, we had what... $120 million in companies purchased? "Keep in mind that they have to pay salaries and overhead in spite of operating losses"Umm... you do, of course, realize that it is BECAUSE they have to pay salaries and overhead that they have the operating losses.