First of all it was not a good look for the company to hold off the accounts till they had something to sweeten the the disappointing reduction in margins, etc.
That said, they were open about the way in which the growth spurt was mishandled and they have done two things to address this, namely securing the supply of enough panels for @60,000 installations (cf backlog of 30000) as well as preparing themselves to produce inputs themselves. Margin problems corrected.
Next the working capital issue. They have not confirmed the establishment of line of credit with bank but claim this is imminent. When they do that, I will be pressing the 'buy' button furiously.
Here's hoping that we get some news of that of Monday.
Good Luck all.
CBD Price at posting:
16.0¢ Sentiment: None Disclosure: Held
