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Originally Posted by GTRMagic
Article is VERY concerning!
That the business is called out as not being a going concern without the injection of further capital, and the agreement of various lenders and debt holders.. makes it complex in team land to rely on income from this mother ship when it is clearly not assured, as described in the article.
Plus there is how many million in spend on wind tunnels and transient dynos that won’t turn a single dollar in income. Funny they could have to HPD in the US and these tools are all laid out.
But it seems Mr Skaife and Mr Nettlefold have a plan to bring in more income..
As an aside.. there have been a LOT of comments over the years about corporates and their place at events. The article duggests a $9m revenue stream from corporates and a $12m revenue team from regular punters…. Scary..
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“There is significant doubt the group will continue as a going concern”
Quote from their own financial statement showing how bad things are.