I bought some again today for a trade - see what happens! Can't...

I bought some again today for a trade - see what happens! Can't see anything to be negative about that doesn't look factored in with net assets roughly equal to the MC.

They have mentioned some business enquiries today due to Ukraine - good to have confirmation.

EOS had about 155m in contract assets and receivables at the HY. Looks like they have received about $65m roughly of this cash by April. Not sure how much new business has been added. There looks to be another 70m of cash from these current assets to be received over the next 8 months. The $70m of inventories (plus another $35m added to make $105m by end of Apr?) might be quite valuable in light of events taking place, maybe saleable at $190m at recent margins, being very rough, if all of it was to be sold. At roughly $15m pcm expenses we have another $120m of expenses to cover to end of CY. An excess $140m - $26m receivables that will probably have been supplied = $114m there perhaps to cover lags in receiving payment that bankers will probably be quite reasonable about, and to cover some expansion.

Might Aus send some RWS integrated Hawkeis to Ukraine? Great showcasing opp?

Deducting an assumed $15m monthly costs, they might currently be at net cash of 61+29-15-35 = 40m at end of April. That is up on the $35m at the HY.

They’ve had the Russian invasion begin since the HY, EFA $US80m letter of support, smart talk of possible strategic separation of spacelink, and reduction in cap ex from $US750m to $US240 for the proposed satellite rollout, and shortlisted as 1 in 5 suppliers for the GWEOE.

We’ll not know exactly what new business they have won until we see the accounts in August I suspect. But we now live in a world wanting to be prepared. But the outlook for EOS is certainly looking brighter to me today.