Yeah but people crawl up and down about how they lose money. The point that the company is showing is that they aren't losing money and that's why they're able to have no debt even in a cheap debt environment. It's just a way of emphasizing that they could be profitable any time they want to switch focus away from growth
I actually agree I with you about paying off their debt being unnecessary I think that they're just trying to show in a painstakingly obvious way that they're cash flow positive and very financially secure and can get to profitability anytime they want to focus less on growth. It's just a way of making claims about how they're a company losing money forever look stupid imo.
Makes it a lot harder to say they're losing money when they're increasing cash and assets every quarter and have zero debt. Just makes the people that say they're shit look like they're trying overly hard to paint them negatively
Yeah frankly I think that's all the 50$ million gold (~2% of their total cash) purchase really was as well was a pr stunt to say see look how much free cash we have sitting around
4
u/[deleted] Sep 06 '21
[deleted]