A condition of the loan was that VXL could repay it. How? There is no sales data showing that the company is operating profitably. In fact it is operating less profitably as time passes. The cost of production is too high in the depressed graphite market so the more they produce the more they lose. Against that cutting their workforce would have lowered the COP somewhat. I can't see how the finance ann can be positive and i'm not convinced we will even get a finance ann in October. With the company down to their $1.6m and hardly any income they need to raise capital fast but like other posters here i'm not sure how they could do that?
VXL Price at posting:
14.0¢ Sentiment: Hold Disclosure: Held
