With a market cap of $12M and debt circa $45-50M things are...

With a market cap of $12M and debt circa $45-50M things are perilous IMO. The interest on the debt will be significant. I predict further write downs selling the meat/water businesses. This company actually needs to sell less at better margins. The strong sales growth sucks up working capital. FY23 from a trading perspective was their best so far, yet they consumed almost $10M of operating cash before investments in plant & equipment. FY24 hopefully will be a positive year for cash flow. It is cash, and not much else, that will be the determining factor in the short term future.