Originally posted by fnbig1
Thanks BM. As always, you are all over it! Thanks for taking the time to expand upon my half baked effort!
No you're not far from the unfortunate truth fnbig1.
Loss after tax, 2018: $5.23 million
Loss after tax 2017: $6.71 million
Including over $3m in feeding too many upper management snouts in the trough, and that is only likely to get worse. Our "pipeline" of solar assets are low margin and the projects where I feel we could have made a decent return, biogas, are now 70% gifted to our "partner". Plus we sold off one of our two biogas projects (potentially the biggest profit makers for our company) at a loss, probably because if we didn't sell we'd be insolvent now. And by doing so I believe we have made it a lot harder to obtain further grants from the Government. The share price is a good indicator of where we are at and where we are heading, unfortunately.
I'm guessing a similar loss for FY19 as we take on new cap. intensive projects, so we need to find another $4m to $5m in funding.
BM, fingers crossed some of your predictions come true, because without them and pulling a rabbit out of the hat it's either sideways or down hill from here (think multiple highly dilutive cap raises and inevitable death spiral in SP). CCE mark 2.
