CPA GETIT from Yahoo cuts apart Tilson B/S and pure nonsense.Tilson is losing his butt. | IOC Message Board Posts


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Msg  5655 of 13357  at  8/24/2010 11:04:16 AM  by

ihor43us


 In response to msg 5650 by  jft310
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Re: CPA GETIT from Yahoo cuts apart Tilson B/S and pure nonsense.Tilson is losing his butt.

 I own IOC and am very interested in its health. So, rather that vent about the posts here or elsewhere, I went to the latest financial report
 
http://www.interoil.com/newsrelease/2010-08-16_2Q_RESULTS_NEWS_RELEASE_Final.pdf
 
The statement of Cash Flows is clear:
 
Cash Used in Operating Activities ..........$29,582,857
Net Cash Used in Investing Activities......$14,963,739
Total Cash Used (burned)in Quarter......$44,546,596 
 
So, they are correct: IOC BURNED $45 million in the quarter! BIG HEADLINE! SELL! SELL!
 
 Now lets look at where the spending occurred.
 
They spent $$44,694,188 paying down accounts payable and accrued liabilities vs adding $79,399,551 in the comparable quarter of '09. They paid down debt.
 
Then, HORRORS! they borrowed $32,468,143 from working facility.
 
Way I see it, they rolled debt over and paid down some. Not a crime in my books. 
 
I think I will hold.
 
I am famous for making mistakes (getting quite good at it actually) so do your own DD. All the data is available via the link above.
 
Ihor 
 


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