Re: 3Q Financial Results
The company version of their business. It avoids or revises or ignores some important financial statistics revealed by the required quarterly report. Example: They continue to publicly state their earlier promise of positive EBITDA by June 30. But they have now created something called Adjusted EBITDA which is an adjustment of an adjustment not recognized by financial standards of accounting. A little tweak that converts a $158 million loss to $36 million. Larger institutions read this well. Fortunately for ACB 88% of ownership is by retail shareholders who are oriented toward the PR and hype and they continue to bid this up. Very shakey but there is hope for a partnership as a bailout of their cash crisis, If not look for the shelf registration to enable an add on stock issue at some lower price. All just MHO.