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Looks like the bankruptcy short thesis has been pretty much debunked, cash burn way below expected.
by lawrenceyan 8y ago
Looks like the bankruptcy short thesis has been pretty much debunked, cash burn way below expected.
- bjl 8y agoNot really. Accounts payable ballooned to around $3B, and cash on hand is only ~$2B (of which about $1B is in the form of revokable deposits).
- lawrenceyan 8y agoYou're sort of cherrypicking those numbers aren't you?... If you look a few lines down, you'll see that total liabilities and equity have gone down by over $1B. Also it's not ~$2B, it's $2.8B from $3.2B last quarter, which was my point about the cash burn. It's clear that the fears of running out of cash and defaulting are completely unfounded. They have multiple years of burn rate.
- oremonger 8y agoExcept for the 3 billion dollars in short-term debt that they have no hope of repaying.
- ggm 8y agoCite, and I don't just mean the $3b existing, I mean the 'no hope of repaying' part. Cite, or delete.