I have dealt with these Indian Govt companies in past. This is not thier fault that they have not paid. Consider these points:
1) New product subject to rigorous Quality testing 2) ARR management was quick to agree any terms and they agreed 365 days payable term with strict quality testing. 3) Indian Govt company is cash rich but they are very slow and unprofessional managed. They do not care to pay a small company like ARR to pay in advance even if product is great. They have agreed 365 days terms and they will honor it. Hence the commitment guarantee by Chairman 4) Worst part was on ARR management who knew the situation in Feb and they had just March accounts receivable and they still said we will be cash positive and hence they got punished for not meeting expectations. 5) Since listing this company has hardly met their expectations kept on degrading it and hence the current SP 6) Expect things to turnaround very quick once the desperate seller are out. Also they have renegotiated the terms from 180- days to 90 days.
ARR is already through with major fight of proving technology and now they are profitable. I guess it is the best investment around at this point in time. It will take some time but will be great medium to short term investment. Do not see prices on daily basis and get fed up. This is now almost bottom. …may be more sidelines to 20 cents but that will be it. Few announcement on CHINA venture update and it will rocket.
