After a complete debacle about 2 years ago - dodgy reporting, which confused sales, cash receipts and revenue to make the numbers look better - and a long ASX suspension, I thought this mob had got back on track. They moved their manufacturing to Taiwan (which, under COVID, looked like genius), and relocated their office to (cheaper) Texas. Revenue was growing (at a snail's pace from a low base) and they were edging towards break-even.
But my optimism is gone. There have been no announcements about anything apart from the statutory ones, for a year. There is no information for investors on the website, not even a title. The "Latest News Updates" has one item from 16 months ago.
In every quarterly, they talk about winning new customers, but they never name them. Every quarterly highlights a different market segment (Vending machines! No, automotive! No wait, church services!).
They're in such a hot market, with no China exposure, and with seemingly decent products. How can they make it so hard?
My sentiment is only "Hold" because I'm sitting on an 80% loss.
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