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clock Created with Sketch. 15/12/21
18:43
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Originally posted by relaxan:
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Their last report to the market was a horror story, the operational cash burn, let alone the impairments was horrendous. The impairments were not wholly non cash either, i.e. the $11m writedown of inventory - they paid real cash to produce products then wrote them down. They were sprouting about hitting production nameplate levels of FDF, but clearly were not selling the product, just building then writing down inventory. When quizzed on sales progress they said nothing other than we will tell you our sales progress at the same time as we sell Coolaroo property, oh and shareholders will not be disappointed with October sales numbers based upon what their sales guys were saying. Since then crickets.
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it’s hard to pick.
