Trade4
the most serious issue with the company was that it was undercapitalised.
The company need a minimun 20M cash in the bank to have any chance in this market. It is a very capital intensive market.
As to having a viable business plan all i can say is that a viable business plan must have capital to support it and a product equal to the competition.
The company had neither.
The company made a few early sales at big discounts to their compeditors. Even when quoting half the price of Redflex they still lost most of the time. At the prices they were quoting they did not have a viable business plan
receivers/managers appointed, page-15
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