I think it is. The price of electricity moves their revenue around significantly, and it's to be expected in the business model.
what matters is:
1) they retain their margin of at least 17%
2) they keep growing
the second was questioned in the last 4c because of the timing of the loan. It took until Nov 22, so they were growing without the required capital.
i don't think management have really done a lot wrong, other than poor communications to investors
Ann: Executive Directors Escrow Shares, page-4
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