FOD needs to stop headlining EBITDA as it did in the accompanying announcement, and has for the last 3 if not 4 quarters
I = Interest
D = Depreciation / Ammortisation
T = Tax
exactly which of those EBIDTA line items are avoidable in an equipment intensive manufacturing operation, carrying close to $5m debt ?
IMO the "turn around", needs to see at least these things having and maintaining a "tick in the box":
- 4 consectuive quarters without any capital raises
- 3 consectuive quarters of positive Cash Flow (all inclusive, no ommissions or exceptions)
- 2 consectuive HY Financials of positive Net Profit After Tax
- 1 FY Annual Account with positive Net Profit After Tax without the presence of any Abnormal Items as per Accounting Standards
- Debt decreasing HY on HY as a continuing improvement
- the chart has to show a change in trend, which means other's beleive the story in no longer just a narrative
The Weekly FOD chart is (and remains) dominated by dark shadows as they say in a TA sense:
With all of that, I could not consider coming back into a FOD position at this point in time.
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