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2.5¢ phoslock environmental technologies limited

Reading this 4C creates the picture of an old man, tired with...

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Casoli Cash

49 Posts.

5

30/07/22

15:35

Post #: 62829795
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Originally posted by Shortblack: ↑

"short term outlook - challenging"
What an under-statement !!!

Looking over the cash flow reports since Sept '20 (last 2 years), the total cash outflow to operate this business has been $31.5mil, but lets take out say $3m for forensic accounting & legal costs = $28.5m (or $14.25m per year).
This is approx. $10mil (26%) less than the two years 2018 & 2019, when receipts were $36.3m.
Receipts this last 2 years are less than half of that $14.5m. (60% less).

The current cash balance is $17.5m. IF the Chinese pay up in Oct. the cash balance will be around $24m. Then take out $1m for the Chinese manufacturing capacity cost - $23m.

This company needs to bring in cash receipts of at least $15m per year within the next 2 years to stay afloat before cash reserves are gone.

Anyone see any indication of this happening ? Nope, me either.

Interesting to see they have laid off staff. Staff costs down around $200k Q on Q and Yr on Yr.

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Reading this 4C creates the picture of an old man, tired with life, reluctantly putting pen to paper and trying to make Armageddon sound like something to look forward to...I have finally given up on this one. What a shame.

PET Price at posting: 24.5¢ Sentiment: None Disclosure: Held
4 Upvote

0 Great analysis

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