CybAero: Systems shipped, but getting paid later
Research Note
2016-08-31
16:36
CybAero just announced they have shipped the three systems for the Chinese Customs Agency to their partner Jolly in China from Linköping today. While this was in line with the timeplan communicated earlier this summer, the following factory acceptance tests (FAT) will be conducted in China. Since the FATs are a prerequisite for the payment of the systems, CybAero now expects this well-awaited cash flow for September or October instead of August as announced earlier. We therefore expect the company to be in need of a further financing round (equity or debt) soon.
AS
Alexander Sattelmaier
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