Ann: Product Purchase Orders from i-charging, page-50

I can understand why some are taking the opportunity to cut and run. IMO the BoD of RFT don’t communicate with their shareholders very well and hence we are in the dark most of the time. In fact I think they believe we are just silent partners in their “private company” . Yes, we get a big announcement like this weeks, but then we get nothing.

If you take a look at 2022. Big order in February gave everyone lots of hope. Then silence. Then in September we are told whilst the order was due to be fulfilled by end 2022, it will now only be partly fulfilled with the remainder by end 2023. No real details of how it’s going and what they are doing to ensure the order will be delivered by this revised date or impact on financials. Just a statement which we have made because we need to, but other than that “trust me guv.” In the meantime profits for FY22 are the same as FY21 despite the big order. NOW we have an even bigger order; overlapping with the already late Tritium order which we can deliver until the end of 2023 but are going to deliver this one in the same timeframe!

I believe this company has huge potential but lacks governance and transparency. They have a good product which should be really successful but I wonder how their business model or strategy stacks up financially. I am along for the ride here but at times think if I double my money do I sell out or do I just treat them like a bet at the races and hold on for the ride, winner takes all.