Market cap now is at the level where expansions are needed. it will need a raise.
Sorry, what has market cap got to do with expansions needed. I always thought market cap is just a measurement of what the market think it is worth at any point in time. Not an indicator of when a company must raise.
In any case, right now, the total order is under US20m. So there is another US50m+ capacity. When current orders are delivered, there will be a gross profit of between 70-80% according to the latest presentation. By the time the company gets order to magnitude of US50m, it can easily expand from receipts of previous orders. So no raise required.
Moreover, the deals have all come with upfront payment to ensure ELS has the capital to deliver with full payment on delivery. It is all there in the recent few announcements. That is another reason why there is no need for any raise. Even a fundie was saying recently that it is such a pleasure to deal with ELS CEO because the company does not need to raise any money.
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