New yahoo boards are garbage - thumbs up this post if you agree
look here is the deal. the product is good and it will sell. that is not the issue or problem. the problem is that management is going to plunder the revenue to pay for pet projects that dont make money. that is the issue here.
I have a really fantastic business to sell you. the company makes product x which could be standalone profitable, but it also makes product y, which were spending millions of dollars we dont have, indebting us at 10% interest. but it is going to be hugely sucessful. so successful, that we have forgotten whom may be an actual customer for this product.
so mook, can I sell you my business?
keep borrowing cash to burn and throw out the window (beer coolers). borrowing at 10% interest. Do you know how hard it is to pay off that kind of cash burn at that interest when the beer cooler idea is completely abandoned due to lack of sales?
did i mention how angry i am.
We all should have bought a squirl. even mike. it would have distracted him long enough to not have invested in beer coolers that he is now uncertain anyone will ever want, which we knew like 2 years ago.
it makes me so angry, this company could have been somewhere already, instead all we get to think about is beer. F.
I knew a long time ago that they should abandon the coolers and stick with the product that makes money.
they burned up all this cash on the beer coolers (as tom calls them). just a huge vaccume of cash for beer coolers.
THIS WAS POSTED, TODAY. WHAT DO YOU SAY NOW?
Cash: We ended the first quarter with $1.7 million in cash and anticipate that we will continue to use cash in 2016. We believe the recently entered into $4 million credit facility will provide sufficient capital to enable the Company to reach positive cash flow from operations next year.