Never in my life have I seen a company which depreciation & and amortization account for 66% of revenue. This is probably a first ever and absolute rubbish.
Do they really need to spend this much each year on fixed capital just to maintain revenue?
They obviously need an better finance team or do they even have one?
They had $794282 in receivables last year, they have written off $230755 that 29% of receivables written off... who are they selling they're services to? Hippies? Where is the credit control? Obviously non-existent.
Seriously Mark get your act together running the ship like an drunken captain..
Start by hiring an decent accountant and then get an finance and accounts personnel instead of paying yourself an overblown salary when you obviously can't run the ship properly.
Disgraceful numbers, considering you're generating 1.6 mill in Cashflow.. yet can't turn an profit.
MWR Price at posting:
42.0¢ Sentiment: Sell Disclosure: Held
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