Buckeye, thanks for the info. IMO, there may be more than one factor that is sending them to delisting. If I am correct, then their lack of market capitalization may have sent them there. I personally don't think the company is worth too much from glancing at a bar chart of their income statements. This is their website with a direct link to the financial page:
atrix.com
Looking at the 10qsb, a very interesting snippet towards the end :
"The Company maintains a line of credit with Riverside Bank. As of December 31,1997, the borrowing base under the line of credit was the lesser of (a)$1,000,000 or (b) the sum of (i) 75% of eligible accounts receivable and (ii)50% of eligible inventory. The Company is also required to maintain tangible net worth of $1,900,000. The line of credit is secured by the Company's assets. The interest rate is at prime. The Company is required to pay accrued interest on a
monthly basis. As of December 31, 1997, the outstanding balance on the line of credit was $840,000 and the remaining borrowing availability was $20,273."
Jin. |
