Aug. 16 at 6:43 AM
$SPRU nope. This isn't going to go up.
They lied again. Finally read through all finacials released.
They aren't close to being cashflow positive.
There wasnt any one time fees that, if they had not been incurred, would have made them op income positive for this quarter..and quite frankly, they are lucky they have a positive spread on interest rate swaps and that interest income generated helps close the gap.
The actual numbers. 8.9M in income from operations. Crushed by 13M in just interest expenses to service debt securing the portfolio. And that doesn't even touch eliminating principle at any rate which would have to happen for there to be "organic growth" in their bottom line.
So with 260M maturing next year.
The question is can they increase their rev or cut costs enough to close a roughly 10M gap in NI by end of year.
This makes their project finance model work while being able to then actually cut down principle against debt on assets owned.
2QTRs . Or this one over for good
