Rehab Money –
May 15, 2019 – As Nashville Post reports, analysts on Monday’s conference call were less interested in Cartwright’s 10-year plan for the company and more interested in the company’s immediate future. The Post writes:
The analysts who asked questions following Cartwright’s and [CFO Andrew] McWilliams’ prepared remarks didn’t take the bait, though, and were more focused on the financials of the company, which last month disclosed in its annual report that its losses and financing needs — including an expensive $30 million loan taken out last month — have raised substantial doubt about AAC’s ability to continue as a going concern. Their questions focused on the potential to raise money by selling real estate — the session also featured Cartwright repeatedly questioning why investors don’t agree with his team’s $400 million valuation of AAC’s real estate — and on near-term plans to increases operating profits by boosting AAC’s census, which was hurt badly last year by a change in Google’s addiction-related search algorithms.