On the surface it doesn't look so bad with cash at hand dropping from $513k to $380 but if you look a little closer AJX looks distressed.
For starters sales are down a mammoth 25% in just 3 months. However, more worryingly is the fact that, for the first time AJX failed to make payment of interest of its debt. They received $24k in interest instead of paying circa $230k. A $250k difference!!!!!!
Another disturbing fact its that in 3 short months, available funding has dropped from $1,625k to just $971k. A drop of $654k!!!!!!!! In 3 months!!!!
AJX stated that there's a "heightened sense of urgency to deliver revenue in the short-term " and I couldn't agree more.
Batten down the hatches punters............
AJX Price at posting:
1.7¢ Sentiment: None Disclosure: Not Held
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