Financial Management, Higgins, 11th edition chapter 9 problem 8

a. What does it mean when a company's free cashflow is negative in one or more years?

b. Do negative values of free cash flow in any way alter or invalidate teh notion that a company's faire market value equals teh present value of its free cash flows discounted at teh company's weighted average cost of capital?

c. Suppose a company's free cash flows were epected to be negative in all future periods. Can you conceive of any reason for buying the company's stock?