I THOUGHT YOU SAID THEY WEREN'T AUDITED
I said recent filings were unaudited. Pull them up. Unaudited. The last time the auditors reviewed and something was filed, they used the 'going concern' statement.
it appears to me that ELEC is creating significant cash flow
You are mistaken. Per their income statement for the quarter ending in May, they lost money on operations in the previous six months, and per the cash flow statement, they burned through half a million dollars, with only $207k left (i.e., a quarter's worth, good roughly until the end of August, from the looks of it).
Also, they have $2.5 million in current liabilities, and only $1.5 million in total assets.
Never mind, anyway. Think what you want.
Andre |
