I am in the lucky position that I came in late so I am only underwater by a small amount (my average is 3.4c). From this report it looks like they have finally found a path forward that make financial sense (i.e. not selling the pallets at a loss) by concentrating on the large and multinational companies where environmental concerns are important. This should have been the plan from the start, but that is life.
RAN did sell more than 37,000 pallets last quarter (up from 28,000) so it is not as though the product is just hot air.
They do own their factory site which is probably worth US$7 - 8 million so they could mortgage this if they needed more cash. I guess a lot will depend on how this quarter goes - if they can get the number of pallets sold up over 50,000 then they might be on their way to profitability.
I am willing to cut RAN a bit more slack than I would another company because I think what they are trying to do is very worthwhile. We really need to do something about waste plastic and chopping down rainforest to make cheap pallets.
RAN Price at posting:
2.6¢ Sentiment: Hold Disclosure: Held
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