- Customer receipts plummeting coupled with adverse backlog position - Staff expenses still very inflated despite downsizing - Insufficient cash to maintain next full 4 quarters - Current cash burn unsustainable, let alone being able to accommodate large scale production if a contract is signed - Contract asset neglible for meaningful conversion
In a recent podcast, CEO called out that a contract was about to be signed in "next few weeks". I believe this wouldve been a month ago.
Unfortunately, the sale of EM Solutions only avoided EOS entering into a Chapter 11, however there are grave cashflow issues at hand.
I worry that a contract announcement would follow closely with a CR at this point. Not looking good IMO.
EOS Price at posting:
$1.24 Sentiment: Hold Disclosure: Held
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