In the last quarterly report we were told -
1. That they had to pay 12 months rent on the factory in China.
2. That the factory has not manufactured anything for 4 years, so it's basically a warehouse.
3. As at 31st March there was a stockpile of 2,551 tonnes of inventory on hand, mostly at the factory - no mention of expiry dates.
4. In March quarter they had only sold 58 tonnes mainly through distributors.
5. Prices have been dropped.
6. That there was insufficiant sales staff, none in Europe.
7. Their focus is on the sale of existing inventory. Beyond that, they don't have any plans.
This is the activity going on in the background. Sell off the rotting stockpile of product.
If they're lucky they might generate enough income to cover rent and wages ?
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