Monday, February 11, 2013

GMXR Tanks ($GMXR)

Well, the Friday afternoon GMXR announcement was not subtle enough for the market to ignore, so the stock is tanking to a new all-time low of 0.45 (pre-split).

I had another afterthought: the company told us the cash situation but not the working capital situation. That is, we don't know to what extent payables have been stretched and how quickly cash is going to flow out the door.

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