Post by
grammarsoldier on Nov 04, 2024 6:04pm
A prediction
When the financials are eventually released it will show a steep decline in revenue and a very worrying cash position.
Yes I am speculating but that absolutely pointless PR released to try and soften the blow of the CTO is more telling than the silence.
Read it again, Rob is trying to polish a t***. Paraphrasing here but the "yes we've been quiet but we are talking to so many people and so many promising things in the pipeline".
It's all puffing from Rob, there was nothing concrete and zero mention about the PP. He does try to hint at the fact that there are discussions with investors, well by all accounts the PP failed and now this CTO because you can't file your accounts on time. Investors will be running in the other direction.
There is literally no excuse for filing your accounts late, unless they are back to their old poor accounting tricks that resulted in the revolving door of auditors.
Long story short, I believe the latest financials will be the start of the end for Fobi!
Comment by
WolfOakville on Nov 05, 2024 4:17am
You forget that they produced negative revenue in Q4 last year, so if they do manage to get their financials out, the revenue will actually look good in the quarter and YTD basis. But the typical problem underneath and on the balance sheet and cash flow will be the usual killers.
Comment by
grammarsoldier on Nov 05, 2024 4:38am
Thanks Wolf, let's wait and see. I think there'll be further decline in revenue is what I mean. There's no reason to be filing late so there must be something of concern to be revealed