This 4C (in my opinion) raises questions about VIV's on-going viability.
The Co has cash at bank of 1.1m of which 2.8m of debt has been fully drawn!
In the next quarter they are forecasting cash costs of 2.6m!
How will the auditor get comfort about signing off on their half year accounts?
Where are the funds coming from to plug the shortfall?
(Legitimate question that should be addressed by management and should be asked by Auditor / ASX etc.)
What does booked sales orders of $4m ...direct line of sight ..now expected to be realised in the next quarter actually mean?
Is this just an accrual to be received in Q3? If so why not just say that?
It would remove the doubt (or has the purchase order not been made and its only a tentative lead?)
This management team cannot speak straight ....they need to be replaced ASAP. They have kicked so many own goals and it show's by the share holder value that has been eroded over the last 2-3 years.
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