Management is not transparent. They suffered $10million loss and that must include some penalties paid. They should have informed the share market as and when the penalty was legally payable. They do not report till required and nothing changes except the dates of completion. when I bought DEL IPO, it did not depend on just Planum parter but projects and streams of revenue. Now it seems getting loan is all that is left. DEL has not tried to get loan from other sources. Most importantly is the way they burning cash with no completion of old projects like that of VIC. All they doing is marketing and signing more contracts while the present projects suffer. Coming back to cash they have $3million as of Aug 22 reports. Account receivables is $5million. That can be burnt out quickly. Even though they have big retail sales the net profit is just $2 million. There are 200 million shares on issue. They have to make at least $8million net profit to match the bank interest rate at the bare minimum. I was thinking long term to wait for 3 years but the way they burning their cash, I don't see it going beyond a year. I might be wrong but 70% loss in shares price and no clear visible revenue stream in near future. Cash will be problem for the company
DEL Price at posting:
5.8¢ Sentiment: Hold Disclosure: Held
