Financials and JV operationsI had let my shares in this one languish as all well out of my control and current loss not too, too bad. It was good to look again at BB and then jump to reporting.
Well, the financials (published early Dec) have holes in them (in terms of reconciling certain numbers) but they do show jv numbers for Oct 24 and Jul 24 (and I presume they are 3 mos numbers:
Sales $ 340,455 $ 363,773
Cost of sales (250,830) (360,419)
89,624 3,354
Operating expenses (20,811) (47,481)
Interest income 3.665 14,931
Income taxes (10,490)
Joint venture net profit or (loss)$ 61,986 $ (29,196)
Net loss allocation:
The Company $ 30,993 $ (14,598)
Zenith 30,993 (14,598)
The only operational references to the operations are that in July 2024, the Company announced that JV Co. had constructed a stage 1 shredding facility at the site of the Commercial Plant and was then processing off-spec battery materials purchased from an established global battery manufacturer and selling the resulting black powder.(that is, since June 2024), and that up to June 2024 they have made about $1.03MM payment out of ~$13MM as their contribution to the jv build-out.
Finally, and of note, they further stated AMY is reviewing the commercial design construction proposals and costing, assessing the current Electric Vehicle market condition and commodity prices, and evaluating the viability of the joint venture.
NO great advance, though something positive albeit no firm assurance of steps and timing. Richard knows more than what he is saying but maybe his demeanour is a 'tell.'