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Fly News Breaks for April 3, 2019
FSNN
Apr 3, 2019 | 08:39 EDT
Craig-Hallum analyst George Sutton suspended his rating, price target and estimates on Fusion Connect given the uncertainties related to the company evaluating its accounting policies as well as the risk that it may not be able to reach an "amicable agreement" with its lenders. The analyst notes that Fusion filed an 8K that laid out a substantial set of challenges and serious issues that define how quickly the story has gone from one of strong bookings to one of lender pressures, restatements, going concern contemplations from the auditors, and a management team that has gone from optimistic to quiet.
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