flatheadbeacon is reporting there will be a total of 6 employees at end of the month. I would guess burn at that rate is under $200K/month
depends how many employees. Should be under 10 I would think. If they were burning $1M/month with 80 employees, it should be considerably less.
Ironic this is all announced on day silver went over $18 for a time
spoke to IR. They really don't have any solid info right now; headcount, burn rate, metals prices needed to re-open. Metals would have to come back up and stay up for a few months before re-opening. IMO, unless silver moves over $20 and copper over $3, I don't see them re-opening the mine. She did say that I-bed work was going on and they are in a "spiral" decline so the distance needed to go compared to last time was decepetive.
Shanahan cited the precipitous drop in copper prices as the impetus behind the shutdown. "We based our plans on a copper price of about $3.00 per pound," Shanahan said. Copper prices as of Jan. 19 had dropped to $2.57 per pound, the lowest price point in more than five years.
$11M. Company had a "B" round of financing in 2009 for $4.7M. A "B" round implies there was an "A" round as well plus the initial investment. So virtually no growth in 5+ years. Can't really figure out what these guys do other than make tools that monitor stuff. $11M for that? Couldn't do it themselves?
Their news feed is almost nil. Very small customer base.
"So there Rayoman, How exactly does the US pay off $20 Trillion in operating debt, and $100 trillion in obligations."
1. "bird flu" or something similar and insufficient amounts of vaccine. Only the young and working folks get the vaccine. Obligations virtually eliminated. Debt eradicated.
2. Sell of non-perfroming assets. Alaska, Hawaii, etc
no need to raise cash
I'm glad the question was asked on the Needham call so that this issue can be put to rest. Only stubborn, stupid folks would still believe they need cash
The cash advance from Avis is sufficient to get them through the next 12-24 months. The cost of that was less than the cost of diluting and paying off an investment bank. The cost to shareholders is certainly better than raising capital through a secondary. Should revenues ramp and costs come down due to IDSY 2.0 being over, it is possible they will generate cash going forward.
except a large part of the mine is copper which has plunged. Not sure if MGN is economically viable at these prices. Who would step up and front the money for construction? All the large miners are cutting back capex.
both are over levered, massively in debt, used car companies. Why would you buy either?
comparable coin numbers through the first half of the month to last year. Card numbers seem a little stronger.
So the last quarter should be flat and this quarter has started out flat.
glugging water, being out of breath, and talking about stuff in random order is acceptable to you? In my mind that is categorically unprofessional. If he came to this presentation so unprepared, was he prepared when they did the SkyWave DD? Did they win the 16K WalMart deal by losing money on every unit cause that's what I am hearing.
ORBC is now down 20% YTD.
he was a total dork and should NEVER do another public appearance again. Glugging water and being out of breath, reading slides out of order, losing his train of thought. So unprofessional. Keep this guy in the back room counting beans
only change is on slide 17
Now says IDSY 2.0 is complete
Analytics, VAC4, Intermodal Container and Dry Van - all GA
2 customer expansions are direct result of IDSY 2.0 (Nestle and Global Airline)
Cut VMS installation times by 50%-70%
new all-time low hit today. Their product is technologically inferior. They have no patents. They have numerous patent lawsuits against them. The barriers to entry for their product are very low. CEO said growth will be negligible this year. Their customer base has a huge concentration of oil/gas/mining companies which will/have cut back on spending. They are egregiously overstaffed. 10X the employees of IDSY with 3X the revenue.