Yes the writing is on the wall for this company , as reflected in the share price , investors believed in them , invested money in them , but company failed to get the new dura brakes in the market within its self imposed timeline due to quality control issues , result is the pathetic revenue figures in the quarterly .
So really a double wammy , running at a loss , can be forgiven if sales are increasing substantially , in this case receipts in the last quarter were only $1.9M against the last nine months of $6.5M and a near $600K loss .
Would like to think it could be turned around by changing management or the board , but possibly too far gone for even that, best option would be sell the tech to a larger company, that can internalise the current pigs in the trough board and management admin costs and then this company would then still have some value as a shell .
ABV Price at posting:
0.4¢ Sentiment: None Disclosure: Held
