Jul. 31 at 7:54 PM
$RIME hopefully SEMICAB cash flow positive enough to support its own growth, otherwise, seems to have a moderate chance of securing a
$5–10 million debt facility for SemiCab’s
$5–15 million expansion, supported by SemiCab’s growth (
$4.6M to
$40M revenue run rate), NDFE partnerships, and low debt (
$1.75M), but hindered by losses (
$24.4M in 2024,
$9.2M (mostly non cash) in Q1 2025), low cash (
$3.3M), and dilution risks (1.4M shares left). Lenders may require high interest, collateral, or milestones. Selling all or part of Singing Machine’s assets (
$5–10M) could reduce debt needs, aligning with to fund SemiCab and avoid a cap raise or sub-
$1 stock.
Venture debt or asset-based lending, likely from Indian financial institutions (e.g., State Bank of India, ICICI Bank) or global logistics-focused funds, given SemiCab’s NDFE ties and FMCG contracts.
Expect high interest (8–15% in India), short tenures (1–3 years), and covenants requiring revenue milestones (e.g.,
$23M by H2 2025), given risk
