I am very scared by this statement. While the company top line growth seems very good, nothing really go into the pocket out of it. In fact, most of the cash balance came from borrowings.
So i decided to check their receivable account which is inline with what i think, they give a loose credit towards their customer
>91 days receivable gone up from 298 to 19186, which is a very big number. although they give us a detail that debtors increase is due to liven acquisition, im not quite sure, no real number provided against it. Also, just above this note, there is an "other receivable account" which goes up by a 100%+ aswell from 2922 to 6275.
I will remain cautious and wait until the sales actually resulted into a cash for now.
Thoughts?
CII Price at posting:
$1.50 Sentiment: None Disclosure: Not Held
(20min delay)