So while browsing though NASDAQ's upcoming IPOs page I found this company. I have looked through the S11 form from the 25th of May and found that the company is in a very bad shape. They seem to have way too much debt and the interest eats up their operating profits (if there are any).
In 2016, their interest payments were almost double their revenue. On page 52 of the filing under 'going concern', they're basically saying that they don't know whether they can make it another year if they cannot pay their debts through the IPO proceedings. Take a look for yourselves, but if you ask me, this doesn't look particularly good. In the years of 2015 and 2016 they have had losses of 48.5 and 37 million, respectively. In the 3 month period ended March 31, 2017 they posted a loss of about 3 million.
Am I missing something here or may this actually be a good short?
Submitted June 04, 2017 at 09:25AM by Plbn_01 http://ift.tt/2sszPWc
