Actually there was an error on the Market Update released in May. Revenue was given as 3m - this is incorrect. Note that revenue for the first half was previously given as 6.6 million, and then total revenue for the first 9 months was 11.2. This make the 3rd quarter revenue 5.9m.
I have confirmed this with the company.
It is kind of bad that the company make such a fundamental, simple reporting error, but good that the revenue has improved so much (based on the battery plant mainly). Also commodity prices for them have improved markedly recently.
The market, however, still has not reflected the underlying improvements. This may not be surprising given the lack of transparency of this company, and the reporting "glitches".
HMC Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
