With the danger of being mister negative, this exposes managements lack of transparency which has been pointed out by numerous other posters.
the "mass" production phrase was rolled out creating the impression that significant amounts of pros were being made. While mass has no clear numerical value it was definitely portrayed as a lot. 34 is not a lot.
it is now clear why management didn't give guidance figures, it would have spooked the market. They could have easily stated we have an initial production run of x. It is small in size but we enable us to step up production later.
there are very serious and reasonable questions that shareholders should be provided answers to: was the reason for such a small production run because the company had run out of money? Is the inventory referred to in the half yearly max or pros? Why was the market not informed of size of runs and orders as is common practice with most companies.
they must have a second much larger production run occurring now to meet the needs of best buys who are shipping late match early April (infamous but ultimately proven data provided to this forum). It would seem the company was a lot closer to going under than we were led to believe, hence the late report and supported by auditors highlight the going concern.
I believe the management have been using semantics to suck people in. Mass production was never mass. Shipping was never to customers. And before you jump down my throat there is no way anyone can say this hasn't been misleading. 34 is not a mass production and no one on here would expect such a small number.
this last raise is not enough to keep the company going for long. They really do need to pivot to the royalties for their ip to keep it alive and pivot away from Justin. He just doesn't have credibility in the market. From specsavers to nhs to mass shipping to missing self imposed deadlines the list keeps growing. And it's clear investors even sophisticated ones are at the end of the line. Think about it, if they had "strong" back orders why could they only raise 3 million.
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