Apologies. I should’ve converted to AUD60m CR to USD.
Regardless, the prognosis is the same - as things stand, the business is dependent upon the financial support of its shareholders as opposed to its operating and financial performance.
As for the projected cost savings, if their history of revenue forecasts and subsequent downgrades are anything to go by, I wouldn’t hold my breath about their cost cutting forecasts.
Another CR in the foreseeable future is a distinct possibility imho.
Appen smells like a PPT company, page-58
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