Thanks, wasn't difficult.The thing that gets me is that the MD...

Thanks, wasn't difficult.

The thing that gets me is that the MD and Chairman are literally telling everyone that the company is going down.

"Whilst we have funded this lead time out of our cash reserves in the past there is a limit to our ability to do this indefinitely."
Yeah, the limit will be reached in the next 6 to 12 months.

"The Company has a limited period within which it must begin to realise and achieve not only its strategic objectives, but financial progress and results."
Yeah, that limited period is the next 6 to 12 months.

There is nothing in this announcement that suggests the company is going to be saved from its fate.

Yes there is $10mil in the bank, but there is usually at least $3mil in liabilities on the books.
As per the last annual report, there was $3.5mil in debts - $2mil in trade payables and the rest mostly lease liabilities.
I.E. a debt for the lease on the China manufacturing premises, that has been doing nothing for 12 months + $185k owed to the US property owner whether anything happens there or not.

I cannot see any sign of good finanacial management here at all !

No one is going to buy it or take it over. Why would they?
It has been operating for 20 years and still has not achieved any brand recognition - OR a profit.