iCreate reports Q4 loss of -$6.5m, but less than the -$21.5m for last year

February 22, 2021

⚫️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??

⚫️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

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