Old 08-11-2025 | 05:51 PM
  #992  
Aquaticus
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Originally Posted by BusDriver2000
wow, so 2 more quarters of this and we are bankrupt
The business doesn’t operate down to zero. When the credit card companies pull their lines of credit it's imminent. This line “new senior secured notes have a $450 million minimum liquidity covenant” in the ch11 bankruptcy paperwork is pretty telling. These were the 2q numbers and here we are half way through 3q with a cash burn rate that would put them below those liquidity requirements right now.
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