I think this is where FGE need to get a little more professional and start keeping a spreadsheet of their works in progress and the amount invoiced against them or work completed so shareholders can get a feel for the future volume of work / revenue.
I suppose this is why the placement to CLO was made... to try to get some professionalism in the 'management' side of things. Im sure if they can start telling the market a little more about what they are doing - and they must be doing it well to be winning work - i'm sure the share price will stop being so volatile.
If followers of the stock have to 'guess' their work in progress something is missing... and it would make it hard to value the stock.
We know how much they have won... we just need to know the revenue profile of it.
Thankfully they don't have any debt so there shouldn't be any cash flow issues (i'm thinking of HST here) due to the timing of revenues.
I always worry when a company grows too fast... i've held this from when I found it at 1.20 ... and I think it has the potential to be a major force, but some elements seem missing.
I'd rather see some high profile management / board level placements than work being won... would give me more confidence that the structures are put in place for a long term growth in the company.
FGE Price at posting:
$5.24 Sentiment: Hold Disclosure: Held
