Quick Latch (LTCH-US) Update..

Update on Cash and Cash Equivalents from 8-k filed thismorning

Latch still haven’t reported for a while, but they put out an 8-k because some of their funds were tied up in SVB. In the release, the company noted that it’s cash and cash equivalents was totalling ~$215m as at March 8th.

The last statements that we got was March 31, 2022. Cash and Cash equivalents at that point was $335m. So in the last year, the company has burned ~35% of its cash - a little more than the ~$65m that I had estimated. I presume that there’s lots of severance etc. in that, and the company also had a bunch of money is short-term securities which may have hurt them.

Anways, nothing too material, but a rare bit of disclosure from the company and confirmation that it continues to incinerate shareholder funds with what seems to be no prospect of ever generating profits.