Thursday, October 08, 2015 12:11:59 AM
cost of sales. Huge amounts where paid out in sales cost but they couldn't deliver. Every car sold was loosing money.
Investors bought up the stock due to the pay out in administration and sales costs that proceeds delivery that was paid by the borrowing of capital that was to be paid back on delivery of the cars. There was no cashflow to deliver cause the collateral ran out to borrow.
Time is ticking and the million dollar question is will
the margins be great enough to cover the money borrowed to pay administration and the cost of sales as collateral is dwindling away on already huge debts that are in place.
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