Wednesday, June 15, 2016 6:25:07 PM
Our most significant customer in fiscal 2016 appears to have ceased business and will presumably no longer be available to purchase our products. The loss of business from this customer could have a materially adverse effect on our revenues in the short term and in the long term if these revenues are not replaced by new products and other existing or new customers.
Yikes! Guessing that's why SYEV has slashed their number of employees. This management team is a joke. For all we knew, the company was doing great (as per their very bullish Q4 guidance). Not only did they miss on the bottom line by a mile. But they've lost their biggest customer too. They couldn't let us know til now? Stock going to get hammered tomorrow. And deservedly so.
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