RE:2 million dollars of TAAT inventoryIIIIIIIIIIIIIIl wrote:
Say no more it aint selling.The last quarter reported this year was lower than same quarter first year .The 6 month year to year comparison does show some improvement this year over last..End of day they spent over 4 million in erxpenses mostly front office to make a 237 profit on the sales of about 600k of TAAT..This is 200k a month about 800 dollars gross sales per month per location........Per store you are talking about 30 bucks a day in sales or couple packs of TAATs.....Most stores will not carry a product with such low sales points......
1) TAAT Net cash used in operating activities was
13 times greater than Revenues in Q2
2) TAAT sales are slow AND Trade Receivables is at nine months worth of revenues in Q2. That tells us customers are not paying for their products in a timely manner. So TAAT is not being paid on time and retail customers aren't buying as much as we were led to believe. We was misled..
3) Net Loss more than 20 times greater than Revenues in Q2
4) Saxon joined TAAT as an advisor in November 2020 so the current financial mess at TAAT developed during the time Saxon was advising Setti on strategy.
What conclusions should we draw from that information?
I'd state my conclusions but I promised myself I wouldn't use the "F-Word" or the "Azzhole Word" on a public forum again.