Think you're right about the customer value point but it's hard to be sure about that. On the positive side for Felix Group Holding Ltd, that one sale seems like a decent one which you would hope might lead to more like that. You've gotta wonder though after $24.5m of losses have been accrued if they are flogging a dead horse?
Good spotting with the cash balance. The thing to remember is that these are June 30 numbers. $1m in the bank with net losses of $7.2m, current assets of $1.9m against current liabilities of $10.7m. They would be sailing close to the wind I recon. Things like 20% staff pay reductions and convertible note raises with what looks to be really onerous terms prior to June 30 all paint a picture of need not want.
FLX Price at posting:
$16.91 Sentiment: Sell Disclosure: Not Held
