CPST - Ugly Financing Transaction Puts Capstone Turbine 1 Step Closer To Bankruptcy
Note: I have covered Capstone Turbine (CPST) previously, so investors should view this as an update to my earlier articles on the company.
It's been more than two years since my last article on Capstone Turbine was published but very little has changed in the meantime. Despite a series of restructuring efforts, the company continues to underperform investor expectations and burn material amounts of cash.
For example, at the time of my last article in October 2016, the company's cash balance was roughly the same as at the end of calendar year 2018 while debt