The current ratio in the last result was .94 which is marginal....

The current ratio in the last result was .94 which is marginal.
Old Ben liked a ratio of 2 and an EBIT to fixed charges of at least 3 at cyclical lows like this (-13.5/18 = -0.75 here).
Last year they spent $170m building vessels? aggresively targeted receivables reducing them by 173m.
They got 37m from selling vessels paid off $60m debt and cash reduced by 75m.
Now they are obligated to pay off 75m per annum debt, they won't spend on vessels but there may be restructuring costs there. It's very close to the line, in terms of the liquidity the cash position and present negative cashflows.
On those numbers it looks like there is a risk of the company not being able to pay it's debts as the fall due in the next financial year isn't there?
In this situations assets, the outlook, the management all becomes irrelevant doesn't it?
They have $50m cash and need to come up with $90m in the next year assuming conditions remain the same - which is reasonable right?
Maybe we need a thread for alternative funding options for those balance sheet sleuths and financial wizards to counter the mermaid off load thread.
Like Ck I want someone to prove me wrong, i think everyone is reading these results and coming to a similar conclusion to me on this one