A pity they didn't use the opportunity provided by the AGM to clarify...
I'm not seeing how they can be EBITDA positive over the near period either. With the same spend on manufacturing in 1Q as the last 4Q they saw $1 million in cash walk out the door - Because manufacturing expenditure was flat, it wasn't due to a build up in inventory assets that the cash disappeared. It will mostly have been losses.
So they have roughly the same WC levels now as they did in July... How will they make this quarter EBITDA positive?
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