The Ponzi scheme that has to deliver for Australian industry–or else #auspol

This example of one company shows you the hope of hopes by Australian industry and others of how the F-35 program must succeed; it has to succeed; it has to make its numbers, or a lot of people will be out of the money.

“Quickstep has developed what it – and its investors – believe will prove to be one of the most efficient methods available for manufacturing composite components. The development process has seen the company survive with minimal revenue by drawing down shareholders’ equity since it raised A$6 million on its Australian initial public offering in October 2005.

At 30 June 2010, the end of its financial year, cumulative losses were nearly A$35 million, an amount sustainable with the aid of A$32.2 million in equity raised in the previous 12 months with new share offerings, sales of options and debt to equity conversion.”

Yet, all the program does is slip; cost more; and in these critical years, shows less orders in the pipeline. High risk? No. That would assume someone did solid risk assessment.

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One thought on “The Ponzi scheme that has to deliver for Australian industry–or else #auspol

  1. Pingback: Today in Canada-Defence fear-mongering #cndpoli | ELP DEFENS(C)E BLOG

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