RE: 10M income so why mcap almost 1/2 that ?11 May 2023 15:09
RNS issued on 19/4/2023..
…” Further to commentary in the Company's 17 April 2023 notification, at present the working capital position of DeepVerge is such that the sum total of its trade receivables (net of impairments) and cash balances together exceed the sum total of its trade creditors and other payable balances (with the amounts owing to Microsaic set out above included in this).
In addition, the Company has agreed payment plans, or payment phasings, with substantially all its creditors.
The Company is exploring funding options including trade finance as a stronger balance sheet would enable the Company to accelerate delivery of some existing contracts and increase confidence in seeking new business.
The Company will issue further announcements as required in line with the AIM Rules for Companies.”
They have cash and revenues to pay all dues including debts but the balance sheet needs to be strengthened to accelerate contracts delivery and attract more business from strengthening their financial position…
This is a positive development and not negative…
The only way from here is up up…
This company is very underrated and the current sp is an anomaly…
Holding significant numbers here with confidence..
GL holders