Hey sorry, I don't understand this part.
Q1 cash was $209 million, but only $62 million was held within the US. Of the non-US cash, $88 million of cash was in China. My prior discussions with the Company indicate that while it may be possible to get non-US, non-China-based cash back to the US, they cannot get the China cash out easily due to the need to dividend it out of a specific subsidiary which requires both US and Chinese regulatory approval.
Assuming all $209 million cash is available, I still don't understand the net cash part. They have $111 million convertible debt outstanding, a $373 million unfunded pension liability, and another $200 million of convertible preferred stock all ahead of the equity. The equity was (and still is?) significantly out of the money and based on some work I did back in April I felt they would require bank debt amendments in order to avoid triggering covenants over the next several quarters.
Edit: From what I understand, the government financing is only an LOI and still has some hurdles to clear. Further, their facility has not been built / renovated / approved / etc. Think this is way overdone.
On 7/27, 9,312 Robinhood accounts owned KODK stock. At the close today, 113,464 Robinhood accounts owned the stock.