They seem to be repaying 1-2m a quarter and repaying about the same....so it appears to be a bit of a revolving faciltiy. The fact that they are near the max drawdown is another flag for a potential capital raising for working capital purposes. They are still ramping up the PowerEagle volumes so I would suggest that working capital usage has not yet stabilised at any particular level.
The next quarterly will be interesting to see the impact of the new China stores on the cashflow position.
On a side note....I would love to see Vmoto develop something like this : -
http://www.autoevolution.com/news/electric-bikes-and-trikes-could-boom-in-the-philippines-65090.html
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