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DVR Message Board

biotex101 2 posts  |  Last Activity: Aug 11, 2015 7:24 PM Member since: Aug 21, 2001
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  • Reply to

    Is the dividend safe?

    by vixstox Aug 10, 2015 12:23 PM
    biotex101 biotex101 Aug 11, 2015 7:24 PM Flag

    Hey, did you cash out of TTHI in May at $9 before it got slammed to $2 now? you are a smart guy

  • It looks like Management forgot to tell shareholders that they are already being limited in their revolver due to poor financial performance. It is already being limited by $8M and will be much more limited in Q3 and Q4. Below is the disclosure in Q2 and then followed by Q1. On the call and in the press release they acted as if this was not the current situation bur a possible future situation. In my opinion, this is purposefully misleading. Just do the math using the below.

    Q2
    "At June 30, 2015, we had no outstanding borrowings under the Revolver and $2.7 million in letters of credit outstanding within the credit facility. Per the terms of the credit facility, there was $114.6 million in available borrowing capacity based on our operating results, down slightly from our total capacity of $125 million. Sustained losses will further limit access to funds under the Revolver."

    Q1
    "Under the Revolver at March 31, 2015, we had no outstanding borrowings, $3.0 million in letters of credit outstanding within our credit facility, and $122.0million in available borrowing capacity."

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