Speechless and disappointed. Trust capital is eroding, for a pre-profit company, this is quite terrible. While pipeline has increased by a lot, I am disappointed on the conversion. $40M worth of bookings was guided but only $24.8M was delivered. There was a mention of $16M letter of intend expecting conversion to backlog in August, but why nothing was mentioned on adding to the backlog in July? As each of the projects can be quite independent of each other, why are some of the originally forecasted backlog for 2H also get push back? It seems like gaining traction in North America could take more time as most of the backlog orders gain are from South America and the Middle East. China is indeed disappointing.
Painful.
FLC Price at posting:
10.8¢ Sentiment: Hold Disclosure: Held
