I agree that cashfow is also an issue but debt is more of an issue for me.
Re: dividends, I strongly disagree that they should even think about this until debt is under control. Priority number 1, 2 and 3 would be debt debt and debt.
I was a holder but exited relatively unscathed a year or so ago and kept it on my watchlist but even at today's price (even lower than when it IPO'ed), I would not invest because of the debt. Take way the debt, the company is worth 5x or more.
The tyre recycling business sounds good, but I am sceptical as to why this was not done before. Capex is low, and it is not a high tech that requires speciality. Even if they pull it off, what is to say other competitors won't also jump in?
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Mkt cap ! $17.66M |
Open | High | Low | Value | Volume |
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7.0¢ | 423079 | 2 |
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No. | Vol. | Price($) |
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1 | 313088 | 0.069 |
4 | 175013 | 0.067 |
1 | 49271 | 0.066 |
3 | 39384 | 0.065 |
2 | 212500 | 0.064 |
Price($) | Vol. | No. |
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0.070 | 423079 | 2 |
0.071 | 43000 | 1 |
0.072 | 21000 | 1 |
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