And yes Management and the company seem to have a more focused approach - that is aligning their efforts to where the short term revenue is likely to flow. Its a shame they have run into a slow down in the bedding sector which has dampened sales this year, although I'm worried what happens if the US and the Globe fall into a recession / depression - sales are likely to drop even further ...
Yes I see increased sales in the future through new contract / product wins, but I just hope those new sales don't end up offsetting a general slow down and declining sales in existing Bedding as a 2nd Half recession kicks in.
Interesting also (well depressing really) looking at Q3 YTD cash receipts last year which were $7.615m against the Q3 YTD receipts issued today of $4.737m ... that really indicates the slow down in bedding
Also if you look at the Q3 YTD net cash outflows this year including capex of $1.661m - i.e. net cash outflow over the last 9 months. And then compare that with the available cash/financing of $1.399m - it looks like they have some tight cash management in front of them.
AJX Price at posting:
1.9¢ Sentiment: Hold Disclosure: Held
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