Respectfully, this announcement is utter horseshit. They've...

Respectfully, this announcement is utter horseshit.

They've been banging on about deals for 18 months & the best they can come up with is a non-binding MOU with a private customer. It is laughable in the extreme.

Crocker is simply collecting a pay check till the ship sinks.

One can't ignore the cash flow position. They aren't making money & are bleeding out. There is still no concrete evidence of any debt/equity being available to them. Just fluff.

And why on earth would anyone take them out when they are so highly leveraged? How does adding one operating asset that Jervois can't make work & other assets requiring capex to go anywhere (plus all that debt) - improve one's company? You just blow out your ROIC numbers doing that.

I appreciate that you are looking for a silver lining, but there just aren't any. Brokers are putting sell recos to their clients at the moment - fearing VA is imminent.