on what basis are you assuming any of the $40M will actually get paid?
the company has accrued revenue? how are we to know how much of that is recoverable.
perhaps they are targeting $80M and recogniaing 50%... who knows. should there be a provision against the $40M?
to me they need to put a better quality announcement out which clearly sets our the terms of the contract and how they believe it is recoverable.
eg. confirm if lump sum? various scenario's, what provisions in the contract confirm entitlement. i dont believe investors have enough information to make an informed decision.
to me they have flagged a big dispute on the cards and in any case we havent heard wartsillas side
what has wartsilla said about this? perhaps we traul linkedin and ask wartsilla management.
PGX Price at posting:
25.0¢ Sentiment: Sell Disclosure: Not Held
