so much financial illiteracy. They've sold $11m of product to a customer with which they had a binding offtake at a 33% discount to the terms of that offtake.
View attachment 631629
Repeat, Young living had a binding offtake to take 1200kg of EISO every year at US$4500/kg. All they've done is bring forward that commitment at a monstrous discount. That means they won't be buying any in the next couple of years because they've got a fully stocked inventory.
Now as recently as 6th June:
View attachment 631608
QIN said they'd be selling just $25-35m of product including spicatum. It seems the only way they could meet this guidance was by discounting product they'd already sold in FY18-19, they haven't found a new chinese customer and this confirms there isn't a market for their product at the prices they claim.
I've generally come to accept that the levels of financial literacy on here are absolutely terrible, but people claiming that this is somehow "good news" is a new low - it's awful news for QIN.
