@TT
Its not a good report, nor is it bad. $40+ mil annualised sales with hopefully growth to come.
COSTS of manufacturing exceeds sales for the QTR - HOW did that happen? My thought is they are sitting on quite a bit of inventory as their sales growth evaporated. That was the flashing warning sign for me. Owning the manufacturing line was meant to mean improved margins. Ummmm... something is not right here.
Seems to me management have achieved no inroads in past 3 months and using covid as an excuse. (Diversified income sources are always commencing next quarter)
I still giving it one last hope but if they don't start making inroads in Sept and Dec quarters, best move on.
The lack of detail from management is the problem here.
PS. will buy this back at 1.3 shortly
Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-18
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