>TMSR is certainly in doo-doo from everything I know about it, but I keep looking at the financials to try and quantify "doo-doo." Wondering what kinds of revenues/returns to expect this quarter; what kind of loss; how's their debt going to be serviced, etc. It would be nice to get some concrete details on how exactly they'll go down the toilet, if possible.
Well, when their "record quarter" turned out to be they slashed capital expenditures to ridiculous levels, got rid of more engineers to slash R&D to highly uncompetitive levels, slashed SG&A by much more than the head count reduction, despite having a whole new product line they should be heavily supporting, and so on. Add more reasonable amounts (another 20-30% to all these) and not only would they have missed their estimates by 5-10 cents, that would have put their margins in the teens - almost half of what they were when healthy. There isn't a single thing this company is doing for the long term, and that's why I really wonder how they even can start to get themselves out of the hole and even if they are trying. Equity financing I suppose might help, but that helps us of course.
I guess they are spending too much time reading threads when they should be working. ;-) Although I might be nervous too, if I had so much options that may become potentially worthless, and current holders are saying right out that it is obvious that this is a POS. |
