Not bad. The Cow is not quite dry yet. That's $10,000 a week for next 33 months. If Titan didn't borrow the $150 million unsecured note in 2012 they would have ZERO CASH. They spend the money like they don't have to pay it back. The Chairman bragged recently that they average about $1.3 million in cash per location. What he failed to mention was that it is all borrowed monies that need to be paid back. Reality is that they don't even have enough cash to repay that $150 million note.
from press release " Net loss attributable to common stockholders for fiscal 2015 was $31.6 million, or $1.51 per diluted share, compared to net income attributable to common stockholders of $8.7 million, or $0.41 per diluted share, for the prior year."
it's all rigged....why does Invesco Canada need to own 18% of shares outstanding? Invesco advisors another 10% of s/o ? Fidelity 15% ? Huber 9% ? Black Rock and Towe nearly 5 % each?
Ridiculous. stock is just totally boxed. Wells Fargo is the real goose in all this. WFC raised the $150 million bond and cleaned up on the underwriting fees when they knew this company's underlying business had negative cash flow and would never be able to repay bondholders their money. The only reason TITAN needed to borrow the money in the first place was because they were doomed.....if the company was any good they wouldn't have need to raise capital...and WFC needs #$%$ companies to raise money for so they can generate the fees.....WFC doesn't make underwriting fees on viable businesses because those good businesses don't need the capital.... WFC has continuously amended the BOND almost every quarter to just keep the "shell game" going....with no amendments ...stock would be at ZERO long time ago......WFC doesn't care if bond is repaid any more...they don't own hardly any. they sold the bonds at $100 ....and the other mutual funds and institutions who bough the bonds at $100 are sitting with their bonds priced at $72 ....going to ZERO