Lets be honest, it's been a terrible investment for many...

Lets be honest, it's been a terrible investment for many here.

But for me personally, I don't mind a paper loss.. even though it may be substantial, so long as my investment thesis holds.. I will continue to hold, and buy more if it drops. My first purchase was a small one in the 80's, and my average is now in the high 20's with a lot lot more shares. I've got my fill at these levels and will buy more if it dips further. IMO the scene has never been better laid out for FLC to succeed.

One of the biggest risks (outside of fraud) is if the company runs out of money and funding... and I'm very comfortable that won't happen. For reasons other than the ability to increase our debt another US$30m, or the upcoming assets sales... or Ronald Lauder's backing.. but more importantly also what I'm seeing Richard doing right now... because that is going to have a longer term impact on the business. That is, Richard is going hard at simplifying the business by narrowing our focus to SPS and not chasing large CES projects... selling off business units not core to our go-forward strategy... this is all contributing to a more sustainable business. I expect G&A costs to continue to continue to fall for the next couple of years, until they reach their targeting operating model.

Gross Margin = 35%
Operating costs/revenue = 20%
Underlying EBITDA/revenue = 15%

They will need to reach a certain level of revenue to meet 'fixed' costs, but with each step in their restructure the 'fixed' costs are falling... so the road to positive cash flows gets a little closer.. and at the same time, their revenues are growing and those seeds laid are now grown plants with flowers that are being pollinated each year for a greater yield in the following year. With growing revenues and lowering costs, profitability is only a matter of time.

While Fluence' has struggled to meet their forecasts in previous years (this year's SPS forecast is not in the bag either) .. there is going to be a time when Fluence will be upgrading their forecasts during the year as opposed to downgrading or just limping over the line.

Agree @Relax1 is an amazing contributor and extremely generous to share his time and excellent research with us all. Hopefully one day we will get a chance to reap the spoils of a successful investment and celebrate in style.