djdutts, My concern isn't the balance sheet, but the profit...

djdutts,
My concern isn't the balance sheet, but the profit (lack of) and negative cashflow. Employees (and the supporting costs) are paid in cold hard cash. $10m per year. From what I can see, unless the cashflow magically increases significantly - UBN will need to either borrow or do a CR.
I'd suggest that UBN management have made a mistake ramping up sales too fast - they didn't deliver, the cash hasn't come through, and the company is in a tight financial spot at the moment.
I've sold out - waiting on the side to see what happens in the next 6 months.