Whilst I enjoy reading your posts. You mentioned in reply to another post:-
Ps. I understand the Hastie analogy but things aren't that grim?? Sure about that??
Did you read the receivers findings on Hastie’s? --- As I understand, Hastie had ‘strong forward orders’‘outstanding WIP’ ‘limited cash flow’ ‘on stop credit with suppliers’ ‘low moral’ ‘bank covenant matters’ and the list goes on. All the ’text book’ ingredients for a Company with issues, wouldn’t you agree so,is there any similar problems here????
It appears the white knight in the form of RCR dropped in at the right time?
I fail to understand if the outstanding WIP was realistic and collectable, why didn’t management collect it to avoid being in the position it finds itself at this moment and looking at 0.38+ / unit.
It’s not rocket science but, in business ‘You can make a profit and still go broke’ It’s called cash flow.
I was a shareholder of this stock and listened to the rhetoric and trusted management forecasts but, decided to dump the stock.
NFK Price at posting:
49.5¢ Sentiment: None Disclosure: Not Held
