Not sure what your point is.. Is it a good situation? Obviously not..
If they receive absolutely none of the $45m their short term ratio suggest they may need to fund some money. That is a fact and obviously the concern behind the drop in some of the value as there may be a sniff of a cheap CR.
Or If they receive the full $45m then their current balance sheet stands which shows current assets of $85m receivables and current liabilities of $45m payable. Also their income and ebita would increase by an extra $5m on top of the forecast 6-8% on second year earnings as they only recognised $40m on income.
So option #1 is they write off $45m and may need to top up short term assets. Which as they advised cash stands at $10m as of 25th of Feb.
Option #2 they get paid their $45m and their short term outlook shows excellent liquidity of approx 1.9
Option #3 is they are unable to raise any funds at all, Wartsila don't pay them anything and then, only then they may be in trouble. But seeing some of the rubbish that gets funding on here that is my least likely outcome.
Again, they have mentioned delays multiple times over multiple months.
Based on that the simple assumption do you think Wartsila will pay $0 of the $45m then sure, wait for news about potential funding. Or if you think they will pay some or all of it then work it out based on that change to balance sheet.
But please spare the board the main stream media type theatricals or don't and tell everyone how the world reacted to this news because 3 people on twitter posted a comment
