Post by
stormnp on Oct 03, 2022 12:48pm
Backlog (Non-IFRS) of $270.2 million at August 10, 2022 comp
Can someone explain it to me? A company who has $270 million in backlog can go bankcrupt. Really don't understand the logic.
Comment by
Ottery on Oct 03, 2022 12:50pm
As far as I can tell they had big cash flow issues and were not profitable on these contracts. If they had a big enough cash position it would have been fine, but they were reliant on more financing and their creditors decided to call a loan. Namely national bank
Comment by
whognu1 on Oct 03, 2022 1:34pm
i make a widget and it costs me $1 per i sell for $1.50 per and make a nice living over the last 18 months every input has increased it now costs me $2.25 per unit my contracts are for $1.50 simple math really