TEUM - Pareteum - Caught In A Cash Crunch After Violating Debt Covenants
Note: I have previously covered Pareteum (NASDAQ:TEUM), so investors should view this as an update to my earlier articles on the company.
Shares of controversial emerging Communications Platform as a Service ("CPaaS") provider Pareteum Corporation have remained under pressure in recent weeks after the company's Q2/2019 results on August 6 revealed two major issues:
- Accounts receivable ballooned an eye-catching 57% quarter-over-quarter, even outpacing the 48% sequential revenue increase. Over the past six months, accounts receivable have almost tripled from $15.4 million at year end 2018 to $45.1 million at the end of Q2.