Working capital deficiency of almost 10 million'The Company has incurred, in the last years, operating losses and negative cash flows from operations, and as a result, the Company has an accumulated deficit of $124,867,771 as at June 30, 2024 ($121,889,032 as at December 31, 2023). Furthermore, there have been unexpected delays in the collection of certain accounts receivable from contracts closed in a prior year. This has resulted in a shortfall in cash flows from operating activities that would be used in funding the Company’s operations. As at June 30, 2024, the Company has working capital deficiency of $9,154,344 ($7,007,719 as at December 31, 2023) including cash of $3,440,239 ($1,802,616 as at December 31, 2023)."
'source sedar.com
A Key issue is the deteriorating margins, delayed and ? Ability to collect accounts receivable, resulting in growing deficits. If the operational efficiency is so bad -does it matter if revenues grow?If the margins are poor, and AR slow, it's just a inability to get traction-ongoing losses, need for more financings, dilution ....
'all imo
for entertainment only