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2.0¢ vection technologies ltd

good find MondyTenX wouldn't know because management...

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Kyriaco

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18/10/23

21:45

Post #: 70415518
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Originally posted by mondyinvest: ↑

This company report is pretty wild. They have some nice shiny pages showing off the top line growth (which is impressive), but when you scroll through to the more boring financial statements and really look under the hood it gets a bit murky:

Current borrowings, June 2022: $1,198,728
Current borrowings, June 2023: $8,113,959

So, during the last financial year they took out an extra $6.9M in loans, and even with that cash injection, they still saw their cash reserves deplete by ($3.0M). They now have total interest bearing liabilities of ($10.6M). Page 53 of the annual report shows they have as many as twenty (20!) different financing facilities. Some of these have interest rates as high as 13%! Why does a company this small need to set up so many different debt facilities? Strangely, I've never heard @TenX talk about any of this sort of stuff...

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good find Mondy

TenX wouldn't know because management wouldn't want him to...smoke and mirrors this mob

big red flag

careful gang
Last edited by Kyriaco: 18/10/23

VR1 Price at posting: 3.7¢ Sentiment: None Disclosure: Not Held
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