RedFlow Ltd -Capital Position And Cost Reductions
Capital position and cost reductions: RedFlow Ltd (ASX: RFX), operating in flow battery technology, reported for cash at the end of the quarter to be $4.2 million and an R&D tax refund of approximately $1,970,000 which was received after the December quarter 2015. The company further stated that its normal operating cash overheads were maintained at about $600,000 per month. Other non-recurring expenditure towards activities such as ongoing product development has been estimated to be about $0.75m. Manufacturing costs have been reduced by over 15% in 2015, with further reductions scheduled for 2016. Moreover, the company could deliver reduced lifetime cost per kWh by over 50%. We believe that this company has considerable future potential for growth and profitability and rate the stock as a Speculative Buy at the current price of $0.255 To read the complete report click here . To get your free report Click Here
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