I thought that it was interesting that such an announcement had to come out. Nowhere does it mention any dollar amounts of revenue.
I think that it points to another negative quarterly coming up. Revenue will be low, and cashflow a large negative. The writedown reported earlier added to the normal loss for the quarter will produce a horror loss number for the half.
Negative overall market conditions in January will help to push this one lower still. I would keep your powder dry for a while longer yet.
MVH Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held