Holy f batman - I was suspecting a 1M loss on the Qtr but I was wrong substantially 2M+ loss.
This is even after significantly reducing staff and other recurring costs and also decided to pay their bills that were 6 months overdue which surely would of been causing legal and accounting costs to blow out over this decision.
The number of estimated qtrs of cash is also very disingenuous by saying 18 qtrs, even though they are hoping (still) to reitre this Alto agreement entirely over the coming weeks which would remove 38M of the available funds which still has ~2M still to be paid to retire this so guess there will be even more CR happening.
2M loss + 2M owed = 4M but only 3M in cash.... Better start shaking that can and SHAKE IT HARD!!!
This is now a sell for me, Ted needs to go as he rather get a Bugatti instead of paying back his loans which if this is what he thinks is the best financial decision for SH and also for himself getting a super depreciative asset then you can see why the company has gone from 25c to 0.5c within years.
Woof woof
