The Table for cash outflows for this quarter does not add up. The detail shows an outflow of $2.57 million, but the total at the bottom is only $1.169 million. Nothing is provided for equipment purchases, yet this is a business that rents out power and pumping equipment. They have to buy it to rent it out if they are expanding the rental fleet.
Revenue for last quarter was $2.3 million with cash of $0.96 million at the end of the quarter.
The operating deficit last quarter was $0.75 million and they spent $0.865 million on equipment financed by borrowing.
The report says they are looking for more loan funds for working capital. They will need them, or a cash raising.
Does not look attractive to me until they line up finance.
The Table for cash outflows for this quarter does not add up....
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