That's not really a valid calculation of value though. They have obligations that any company buying them would need to fill such as finishing NZ build and building the Yarra Valley plant. Nobody can just buy them sell the assets and call it a day.
Also of that $2.54m cash they still had $344k debt in loans on the NZ build and another month has passed so lets do a rough $1.6m for staffing/administration cost based on last quarter and there is another potential $560k gone already. That gets us down to $1.6m already, unless they have some incoming payments related to these cost in any way.
The Yarra Valley contract is concerning because even if they got the go ahead tomorrow they sound unready to proceed. They spent $777K on this last quarter and all they are saying is "Detailed design advanced on Yarra Valley Water waste to energy project" the detailed design is not finished, they are not saying its expected to be finished at date X. They are just saying it "advanced". The language used throughout this report is very concerning regarding anything progressing anytime soon or at all. The only thing that seems to buy them time besides a huge dilution event is Palisade suddenly giving them the go ahead and injecting them with cash, but it just seems so unrealistic that they would place any faith in DEL at this point.
As others have said I too would have gone down to 0 on this thing if management had actually communicated what was going on instead of hiding everything and being as vague as possible. The fact the haven't even done a webinar says it all really.
DEL Price at posting:
3.3¢ Sentiment: Sell Disclosure: Not Held
