back in the day I used to work at a restructuring firm in Australia... Remember one of our clients nearly tipped into administration because some WA developer cowboys never paid on a massive contract. Went through a heavy arbitration process which incurred many fees and so on.... Wasn't a bad business, just didn't have cash around to trade through because it was such a material contract.. They also had a senior facility with one of the big four banks, which was effectively maxed out, so they could not borrow to trade through arbitration...which made things tougher.
Vmoto learnt some lessons about counterparty risk and managing trade receivables from GreenMo.. That's for sure. Cash is king.
VMT Price at posting:
21.0¢ Sentiment: Hold Disclosure: Held
