Wow, the latest 10k continues the slide. Takeaways are if you’re in KY be worried. Lease on office ended in September, Work down 287%, huge drop in cash, huge increase in liabilities as interest is eating the company alive due to prime/LIBOR going from 2% to 6%. I know IPS had warned about this a while back.
Haven’t finished going through it, but the word restructuring comes to mind. Lots of words about ESG.
Well if nobody in KY has heard anything, it must be a good sign. Management gave the people in SF and Temecula tons of warnings about what was going down...
If they close our office in Kentucky it really wouldn't change much. 90% of us are WFH. So if we go to Mason a couple times a month, its no big deal. The building is old with old technology, that they repaint every few years.
With regard to the KY lease it’s all in the filing. No secret about the lease running out. Will it be renewed? We will see.
I can tell you the Independence office hasn't heard a word about this. Everything has been pretty chill so far this summer. No one seems to be panicking. So not completely sure how accurate this is.
ESG is the destructive cancer they’re using to infect all our productive organizations with Marxism. This doesn’t end well except for a very few.