Where did you see that report? It was so much easier to keep up to date when it was ASX listed.
Looking at the press releases on the investor relations website it looks like OIC is drip feeding them to keep operations going. I guess if those guys keep the money flowing they must think something will happen soon to move the needle on their performance.
But as you said, the cash burn is crazy, if wheel production is up AND cash burn is up that suggests that they're still making a loss per wheel, more wheels, more cash burn. I know they keep talking about contribution margins being positive in older presentations but this may not include indirect costs that scale with production output. Or, maybe it's still capex to build that extra capacity?
Either way, I've lost so much on these guys there's no point selling, ride it to the bottom and claim a capital loss or be pleasantly surprised if they pull it off.
