They probably set $3M as a feel good. Take that away and you may be surprised still how little they announce deals.
imagine if IC and SQ were not signed. The company would have been wound up already. It’s all very well having a high margin product, but you still have to sell it.
yes bulk orders have come in but no where near the volume predicted. Add to that the fact that nCOR will not be over soon and realistically it’s likely a year for China to bounce back to where it was I’m not confident of a load of multi deals happening imminently.
yes the environment is critical and I’m sure China are committed - however the economy must come first.
30m people (and likely far more) are on house arrest. Nothing is being done in China while people sit at home.
so thank goodness for low margin projects - I would like to see management trim staff costs and get SQ back on track. Otherwise I see another CR very soon.
FLC Price at posting:
35.0¢ Sentiment: Hold Disclosure: Held
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