BUD (ASX) Removal of CEO

Originally posted by MikhailP: ↑

Okay, lets get to the bottom of this

But lets first clarify so we aren't talking two different points:

1) By $30m in 30 days are you referring to the announcement on the 16th of September 2020?

If you are, my understanding is that these orders only have been placed around then but that doesn't mean that they are fulfilled, shipped and stocked. Further to my understanding there is a delay of around 2-3 months with the old financing arrangement as the old Chinese company would require money upfront creating another bottle neck in the fact they would have to wait for previous money to be paid to them from larger retailer such as Bunnings etc (again my understanding is that large retailer pay you as late as possible).
So this combination means that it would take multiple months to receive funds for the sale of product.

as an example Bunnings takes 1-2 months to pay LIFX. LIFX needs to pay luminous upfront then goods are made and shipped to retailer 2-3 months later. back to start of example with goods taking up to 4 months to "cycle" from cash to cash.

We were also told there was shortages and likely these orders were not all been filled.

From the guidance we have been told the following:

So my understanding the revenue guidance only includes ordered and partially paid for orders so any outstanding of the $30m would be included here. So just with fulfilled orders we should be adjusted EBITDA positive as long as we can supply the product.

The kicker though is that the guidance does not include any NEW orders in that period, and I find it unlikely that we will have no new orders with LIFX.com being partially stocked with more looking to get filled and switch being launched. So my takeaway is that the current 6 months will be backfilling orders and the next 6 months will be pure sales as multiple manufacturers come online.

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"Thats not right....the $18m was mostly xmas orders...Only a small part is in the $24m-28m...Some did follow through....If you listen to webinars then you would have known that.......I misunderstood what ur question was..." Holdtight.

Last qtr was $9m total. This qtr predicted $24m-$28m.
" only a small part is in the $24m... "
So where is the rest of it?
The company boast they have $30m of orders knowing they can't fulfil them. That's deceptive and misleading conduct.
To me all that $24m is backdated orders. The company are playing catchup and all their new supply is filling orders that carried over that couldnt be fulfilled last qtr, so I totally disagree with Holdtight. They do not have the money or available finance to fulfil new orders until they get paid. So like I said, this guidance is a fluff announcement, worded badly to try and confuse people. It's news we already had that's being repeated.