Had a closer look at the 2011 financial report and noted the following
Current assets in prepayments (Note 11) and PPE (Note 13)relates to capitalised expenses (paid for six opcon boxes)for a total of $8,503,970. An additional $616k has been capitalised since then to-date (4C Announcement)
Also, Note 25(b) unrecognised contractual commitments in relation to purchase of Opcon boxes amounts to $3,223,000. This means ERJ has to pay this amount to own the 6 boxes. ERJ has about $5M debt (convertible bond facility with Fortensa)available to cover the outstanding amount.
Well, that looks great. So, in my view ERJ is viable, profitable and can afford debt funding.
Looking for a neat 25% profit by month-end.
how willl this company make money, page-12
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