That model isn't working for DAZ - if it was, they wouldn't be putting most of their content on sale at 70% off at the drop of a hat. If they were a stock, I'd short them - they are showing classic signs of a company with cash flow problems.

Not sure I buy that one. People have been predicting the imminent demise of DAZ since they released DS, if not longer. But they're still here. I don't shop there much any more, because I don't use DS or Genesis, but clearly, others do.

Those huge sales have always been part of the DAZ marketing plan, and I don't think it means anything about their cash flow. It just means that if you buy at full price at DAZ, you've overpaid.