Hydroworks is a company with valuable IP and a dedicated workforce. As with any contract based operation cash flow is very lumpy.
My one comment to Powerhouse directors would be that if they allow Hydroworks to fail they will have great difficulty in persuading other start ups to come on board. The appointment of a liquidator may be the wrong option whereas receivership with support could result in a prosperous investment in the future. Asset stripping to the benefit of Powerhouse will also strip away future investor interest on their future developments.
Ann: Update on PVL investee company Hydroworks Limited, page-3
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