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.