I am not referring to Ohm, even though it was the greatest failure and part stuffed up by Bud management.I am referring to the delay of trade and inventory finances, originally promised for July 2019 only to be deferred till 3 months later. That delay of 3 months cost a lot to the company! They probably cost the company the massive B2B orders in Dec!!! And they probably cannot draw on them cause the costs are too high or financier don’t release the fund.
Now going back to all those cleansing deals stated since Sep 2019. It is nearly one year on now, they still cannot close them. They can blame the other parties for not signing the deals, restructure and covid-19, but don’t tell me management are not to be blamed for this failure?
Let’s talk about this debt finance which has been extended from March to May and to July and now? I have not seen an ASX company which keeps deferring debts 3 months after 3 months and still cannot deliver. It is an absolute joke, don’t you think?
A lot of investors will not invest Bud because we have competent issues with the management and failure to deliver on time.
BUD Price at posting:
1.3¢ Sentiment: Hold Disclosure: Held
