It is not quite so bad as that. They list $11000 in operating expenses and $9500 in depreciation, so more like $20500 in expenses for a deficit of $4000 versus

It is not quite so bad as that. They list $11000 in operating expenses and $9500 in depreciation, so more like $20500 in expenses for a deficit of $4000 versus that $97000 in the bank. The other was $55000 in capital expenses, but they are clearly not spending that every year (depreciation is going to be closer to their average capital expense).