Patrick Leary wrote:
Thanks Matt for the full explanation of how they went public. Good to
know and interesting stuff. At this point for sure they are investing
heavily and losing money as they invest. Before their offering they had
been cash flow positive.
I really hate this kind of thread, but I can't help correcting you. They
were not cash flow positive before their offering. In the first 9 months
of 2006 --the part before the offering-- they lost $237,000. For the
year ended 2005 they lost $947,000.
-Matt
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