Do I have this right? Did NAUH take out an $8M loan from Black Hills Community Bank ? If so, what does this mean?
https://fintel.io/doc/www.sec.gov/Archives/edgar/data/1399855/000165495418005711/nuah_8k.htm
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that they are running out of cash.
During this year they have burned through $8M in cash and were down under $5M in cash at the end of last quarter. This includes selling
They suspended the quarterly dividend (so no payout to Ron Shape) as of last quarter.
Looking at the balance sheet -- there assets as of the end of the last quarter were $12M and their current liabilities (meaning due now) were just under $12M. So there almost or basically bankrupt without a cash infusion.
Plus they bought a school in June for $2M.
If not loan, they would be out of cash soon.