The cash receipts from the last qtr is not consistent earnings and cannot be a benchmark guide for future qtrly earnings. The cash receipts are simple a buy product of progress claims from the status of the projects under construction. These earnings are adhoc. The only way to ensure consistency, is if they have continuous secured work, which they don't and from the recent business update, the work they though they had secured can been deferred. Which means that, those jobs would have been in production and they would have been able to invoice the progress claims to secure some revenue.
Impairment is a cash balance sheet matter, what is a fact, is that they are likely to still be paying rent for the melb DC. We have no update on this.
No new contract announcements for months which is concerning as there needs to be steady contract wins to maintain the production line
You can wait for the qtrly to crunch your numbers, or, if you have balls, wait till the Q3 qtrly to see. I'm out. Will leave quietly. just DYOR and make sure you have answered the questions raised with an unbiased view.
Also, Thank You to whoever placed the buy orders for DXNOA, I took a massive haircut, but happy that i was even able to sell the garbage!
DXN Price at posting:
2.2¢ Sentiment: Sell Disclosure: Not Held
