Wow, so their total losses (including impairments) total about $145million over the last 4 or 5 years.
I'm only commenting as I've followed this stock for a bunch of years. Made some money early when it went to 40cents and then gave back all the profits when I bought back in later on and eventually sold out. A lesson learned.
Anyway, those are some stark numbers which show the extraordinary destruction of equity and value through poor capital management and poor business decision. In hindsight I think they paid way too much for LIFX under bad terms from Eastfield, taking on a business with lowish margins due. Then being left to try and run this business with no working capital while also incurring large operating losses and punitive funding arrangements.
Anyway, that's all water under the bridge.
BUD Price at posting:
0.8¢ Sentiment: None Disclosure: Not Held
