At long last some clarification on current financial and logistical matters that are highly relevant to Share Holders and SP.
Early March /22 SP was 34c it is now halved to 17c.
Well, hopefully, this announcement will instill some confidence in new or old investors.
Few bits of Good news:
• The Company expects operating cash flow to continue to be positive and currently has cash and unused banking facilities of about $9.2m, which together with its positive operating cash flow, are sufficient to meets its current and future financing needs, at this point in time
• Sales orders taken for FY22 are expected to be at least $42m, which is at least 19% higher than the $35.3m achieved in FY21. Excluding the MEG sales order received in December 2021, the underlying business will book at least $38m of sales orders for FY22, which will be at least 8% higher than FY21
Based on this release SP can start retracing some of these loses
CMP Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
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(20min delay)