In December they indicated that Highcom was running at a AUD$2m revenue run rate and then you add the revenues from the Technology division.....you have to wonder how they ended up with a ~9m loss before the inventory markdown......cost base is too high?
the board needs to reign in expectations else it seems highly likely that this company will go under.......7m in cash at Jun23 and a 9m loss over 6 mths and plenty of examples of defence contractors not understanding how to manage cashflow including when they have an order backlog (this is worse in that they don't have any orders of their main profitable product!!)
In December they indicated that Highcom was running at a AUD$2m...
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