⚫️For Q4 (Dec 2020) revenues jumped to $17m, almost 2 and a half times last year’s $7m (likely mainly due to Sunsplash)
⚫️But Cost of Sales grew at a faster pace, eroding margins?♂️
⚫️Admin expense??
![](https://i0.wp.com/moneymax101.com/wp-content/uploads/2021/02/image.png?resize=640%2C347&ssl=1)
⚫️Interest exp⬆️more than 6x last year’s $476k
⚫️-$6.5m loss vs -$21.5m last year
⚫️Company has a -ve cash balance
⚫️Crazy accounts receivables
⚫️-ve equity. More than 1.5x the debt they had last year
⚫️-ve free cash flow and a -ve cash balance
That APO could not happen sooner