imo this report is nothing short of diabolical. Vague in content and reeks of uncertainty by the company. Its a shocker.
Blitz did not work. There is no way they will have their bikes running around with doubtful technology being tried. Could destroy their business. They want bikes on the road functioning. This is a non event.
The JV between PT Garda Persada has disappeared off the map. Not even mentioned. So one could assume that was a sham. What else could one deduce.
Now just tinpot vague references to "numerous business development opportunities" what a load of codswallop.
Roadix. "additional order will be confirmed soon" .......really what $50k
Now talking about the electric car market, when they cannot even get the technology functioning in a scooter.
It will not see out the end of 2019. They have nothing else, they have no revenue of consequence and chewed up $546,000 this quarter. Previous quarter was $1,266,000
They are surviving to get a salary for as long as possible
The company has $1,042,000 cash left.
June this year after paying their salaries for six months, they have no money on current projections.
Who will give them more cash - would you?
What else can one deduce?
UTR Price at posting:
0.8¢ Sentiment: None Disclosure: Held
