In a warehouse on the outskirts of Paris, Deirdre (Linda Hofflander – VP and Chief Marketing Officer) meets with Spence (James Granger – President and CEO) and Larry (Darin McAreavey – VP and CFO).
Deirdre briefs the men on their mission “Thank you and welcome everyone to our 2009 second quarter conference call. After brief comments from management, we will open up the call to your questions….”
And by god what horrors were in the transcript of the recent Wireless Ronin Technologies, Inc. (RNIN) Q2 2009 Earnings Call Transcript. It looks to us like they have no more than 12 months before they run out of cash.
The key points were…
- Revenue decline 40% from prior year quarter
- Net Loss of USD 2.7M for the quarter
- Cash down to USD 9.8M from USD 11.7M
Folks like NEC should have their heads examined for jumping into bed with these guys (in early August it was announced that NEC Display Solutions of America, Inc. would resell Wireless Ronin’s offerings).
“Whenever there is any doubt, there is no doubt. That’s the first thing they teach you” so said Sam (played by Robert De Niro) in John Frankenheimer’s 1998 film Ronin – we just know this is heading towards a humongous train wreck.