Surprise no comments about the numbers in the qrtly.
I know this is cash reporting and can disguise inventory builds, … but … Some scary ratios …
- SG&A is 2.7 x revenue
- R&D is 1.8 x revenue
- COGS is 1.5 x revenue … he scariest of all!!!
As they sell batteries they need to raise capital as they’re always selling below their cash cost. The planned cost reductions on greater volume ecx Thailand won’t change this - they need much greater cost reductions.
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