@Masami, Can I add a few points.
Quite a few of what went wrong in H1 were out of control of the company:
- Polish government proved more difficult than expect to deal with. Appropriate to cut losses and move on.
- US congress not signing spending/delaying agreements which delaying purchase orders.
- Payment delays of Australian contracts.
- Middle East contract withdrawal.
Other issues are management's fault:
- Needed at act faster to bring costs down in line with revenue, once it became clear sales had slowed.
- Poor timing of move to US Ohio office.
- Needed better product understanding and customer requirements.
- Clearer focus on the cash burn.
Having said all that, at current levels, the stock is a buy IMHO. Second half ( June 30 and onwards into 2025) will be significantly better simply on already contracted revenues. $9m in Armor and $11.7m in technology is the base revenue number with several add on in the "pipeline" possibly falling in. A positive EBITDA in H2 could get the full year to breakeven or slightly positive. With any luck, sales of the inventory could lead to an uplift. Inventory alone is $5m higher than the market cap.
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@Masami, Can I add a few points.Quite a few of what went wrong...
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16.0¢ |
Change
0.005(3.23%) |
Mkt cap ! $16.42M |
Open | High | Low | Value | Volume |
15.5¢ | 16.0¢ | 15.0¢ | $10.55K | 68.64K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 95487 | 15.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
16.0¢ | 14391 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
5 | 95487 | 0.150 |
4 | 37242 | 0.145 |
5 | 155215 | 0.140 |
5 | 211011 | 0.135 |
2 | 33131 | 0.130 |
Price($) | Vol. | No. |
---|---|---|
0.160 | 14391 | 1 |
0.165 | 70000 | 1 |
0.170 | 13671 | 2 |
0.175 | 36911 | 1 |
0.180 | 38790 | 4 |
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