American Battery Technology appears to be straying further down the path of financial risk. While its debt has decreased, so has its cash reserves, doesn’t this resemble a mathematical game of ‘negative plus negative equals positive’? The company’s balance sheet seems like a meticulously staged play, with liabilities acting as props that add drama without causing genuine concern for the audience. The company claims to have net cash, but for a company with a market cap of $116.8 million, this cash is remarkably ‘nano’. And with the dual blow of losses and negative free cash flow, one can’t help but wonder when the company will manage to pull itself out of the debt quagmire.
Is American Battery Technology (NASDAQ:ABAT) Weighed On By Its Debt Load?
