I just hope they make it out of the suspension. Things are looking rather grim with what appears to be a loss making (or very small profit) TATA contract, little cash flow and no significant order from China for quite sometime (which is what they desperately need). Hopefully the Chinese have not de-engineered their product.
I will be interested to see what cash flow is being generated from TATA as this will be the first quarter with meaningful sales volume as per their payment terms of 60 days. This is of course effectively 90 days as it will be paid at the end of the month the payment is due.
Sorry for the pessimistic tone, however I'm still keeping my fingers crossed they will survive!
ACE Price at posting:
1.9¢ Sentiment: None Disclosure: Held
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