Why would CAT need $5m USD if they had $24M in the bank? This makes no sense?
Although as i posted previously these guys are never truly honest with the facts.
Aside from that my main concern is not the market here, which is very small, its the USA were nearly all CAT's business is, about 75% of the revenue comes from the USA through wearables and XOS video and the Video revenue is renewed annually This is collected before the start of the season in September (this is why Q1 is always CAT's best for revenue)
The concern is that the USA will be the hardest hit country in the world and everything will be cancelled which is catastrophic for CAT.
I believe they know that this is probable and have borrowed the extra funds to see them through to the late summer.
Hope i am wrong.
Ann: Covid-19 Business Update, page-8
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