"why on earth would they need to raise money?" – superficially... $100 million in the bank, cash burn of $26 million equals under four quarters.
"How is staff expenses still so high" – You need to wait until the next quarterly to get a true picture of post-divestment staff costs. EM Solutions remained with EOS until the end of January. Then EOS would have had to book the accrued leave entitlements of staff as at the settlement date as a staff cost.
"they are definitely going through a world wide recruitment" – there would be a number of positions encompassing both EM Solutions and EOS where the employee would have gone with EM Solutions, so they will have to fill those. Or some of them, anyway.
I still haven't decided whether selling their only profitable business marks the terminal turning point for EOS. It has provided an opportunity to climb out of the pit they'd dug themselves into with SpaceLink. The next quarterly, net of EM Solutions, will show how good the opportunity is. And by the end of 2025 we should be able to see whether what's left of EOS is succeeding.
EOS Price at posting:
$1.25 Sentiment: Hold Disclosure: Held
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