Meh... Net cash down $0.5mio after pocketing $1.6mio in R&D grant, so we are actually comparing cash decreasing $2.1mio vs $1,8mio previous quarter. I imagine this is mostly Limepay additional costs dragging down the bottom line with additional revenues not compensating. I have to read the commentary in more details to see if this is correct. On the plus side, the revenue base is now higher, and we go to hope they can consolidate some staffing costs. Note the loan book is shrinking but they're still paying the financing on $14mio. Something got to happen there.
They're burning about $2mio per quarter with a net cash position of $4.4mio, so something got to happen fast...
Not sure how this will be viewed on Monday. My guess, not great.
SPX Price at posting:
1.0¢ Sentiment: Sell Disclosure: Held
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