They are sitting on $70m in cash, with further contract asset cash generation to come. This would imply enough cash to fund upcoming debt payments and operational cash requirements, particularly as the last 4C saw postiive cash flow generatin from operating activities with new management focused on contract structures that pay cash well in advance and are cash flow positive as opposed to the old managements contracts that saw cash come in post production funding and only on delivery and acceptance of goods.
I cant image a CR with this much cash and a further raising at these prices would be absoultely value destroying for current shareholders particularly as the CEO has stated various times he thinks the SP is undervalued.
Then again, who knows with this stock.
EOS Price at posting:
$1.37 Sentiment: None Disclosure: Held
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