We reported our Q2 financial results and held our quarterly earnings call with investors and analysts today. We shared good news about the progress we have been making, and I’m eager now to share some of these highlights with you.We reported better-than-expected operating results for the quarter and also announced that, due to our strengthened cash position, we completely paid off the outstanding balance on our credit facility. To paraphrase the author Mark Twain, “rumors of our demise have been greatly exaggerated.”We strengthened our balance sheet considerably during Q2. Our cash and cash equivalents increased 50% to $77.5 million, compared to $51.7 million last year. Paying off the $17.3 million borrowed under our credit facility removes a source of uncertainty. We expect to secure a new asset-backed revolving credit facility with a well-known lender by the end of the third quarter.A big part of that success has been due to your efforts, and on behalf of the executive team, our board of directors and myself, I want to thank you for your commitment, hard work and sacrifices.Last quarter, I shared my initial observations after my first 60 days with the Company. While my general impressions haven’t changed, I have a better understanding of where we are, where we should be and how we’ll get there.
