I have to say I really like BBs style of writing. Cuts to the chase every time. There are some positives out of this, despite what seems like on face-value, a mess. - Revenue - the businesses are able to generate some decent revenue and turn it into a profit compared to outgoings. That's a important for me: we have to have a genuine business that sells a product that people really want (as opposed to carrier billing). - Depreciation/Amortisation - Most of the loss was attributable to ploughing dough into software development. - let's hope this pays off eventually. Some was due to prior bad debts and disputes as well (page 39). However, I see most of this as new investment or a legacy of past mistakes. -BB's outlook is rather upbeat and COVID government support has helped us a lot. Cash burn has thankfully been very minimal.
Long way to go, and it could go either way, but BB has the business hanging in there and perhaps there is a glimmer of light at the end of this long tunnel.
IMS Price at posting:
0.7¢ Sentiment: Hold Disclosure: Held
