I think we have all read this right. This is a slow speculative burn but with hope opf future profits but not now. Lets hope they dont burn OUR cash we gave them in last Cap raise before they get to profit.
With cash burn per qtr at about $$3m a qtr or $1m a month they better be generating sales! I dont like the lack of urgency in they report that sales will improves over the next 2 qtrs and years. They dont have that much time! By the current burn rate they have 18 months before they blow the capital taken from shareholders. So we need to see REAL sales and real profits to reward shareholders. Its great for the CEO Ed to report so positively yet say absolutely nothing about forecast revenue. Just we are growing and we should all be happy.
Cash burn has gone from $400k a month in 2019 to $1m a month, the CEO has taken a nice salary increase on back of last capital raise. Its easy for him to take his time. He is getting rewarded for no performance at this stage. So far the shareholders kicked in $20m in last cap raise to watch spend go up and salaries go up. From the report: With 5 Enterprise Projects only very recently entering a revenue generating stage taking place in December and this quarter, totalling 6 revenue generating projects overall. We expect revenue to grow over the coming quarters and years.
No good enough in my view. NO urgency but I am a holder and hope they actually get these sales they are teasing us with such language as country sales......It sounds really good but at $200k a qtr in sales YOJ have a lot of improving to do when they spend $3m a qtr!
I am call the report BS until I see actual revenues commensurate with what they are spending of shareholders funds.
YOJ Price at posting:
16.0¢ Sentiment: Buy Disclosure: Held
