geez.....these guys still have a cost base of ~22m per quarter...

geez.....these guys still have a cost base of ~22m per quarter and clearly the revenues are not covering that so they are operationally cashflow negative, have ~60m in debt, only 7m in cash....how are they ever going to dig themselves out of this hole.

I mean this is just a vehicle for mgmt to pay themselves until the auditors force them to admit its not a going concern at which point they will bugger off with an incredible amount of shareholder wealth destroyed.

I'm really intrigued at what the investment case Ingot Capital have for buying 7% of the shares in June