bearish
Eastside distilling part 2: review Q1 results
SUMMARY
- I believe EAST might be a 0, or basically 0, before the end of this year and equity holders (as well as preferred equity holders) are going to be wiped out.
- Here is my analysis of the latest results. Please note that this is after my 3rd (but not last) whiskey shot so there is a chance this will just be a stream of disorganized consciousness
- EAST has $2.6 million of cash as of March 31st, but that is after raising $2 million of working capital financing during the quarter offset by paying off $900K of the Live Oak debt facility.
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