1st Qtr Receipts $4.8m Loss $1.4m Cash $1.3m Expenses first quarter. $6.2m
The 1st Qrtr report has all the bells and whistles of a PR agent - but the company is chewing up loot and going nowhere when you look at the reality of the numbers.
It's high octane on the verbal with the big picture, but low on substance and delivery. They are deleting contracts due to non-performance and renegotiating contracts that have issues.
They are going to need more cash, but who is going to give it to them?
Soon heading into survival mode, unfortunately.
Directors/Management ego got ahead of reality. They are out of their depth.
I think it is a basket case.
IME Price at posting:
43.5¢ Sentiment: None Disclosure: Held
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