FOD 4.44% 4.7¢ the food revolution group limited

What is the status of the new clean room facility?

  1. 10 Posts.
    I am a FOD investor and hold shares in this company.

    I have been researching the announcements specifically about the new cleanroom facility since June of 2019. In June 2019 the Company stated it would be ready, completed for next quarter production. That never happened. Then in November 2019, it communicated that was nearing completion for December/January 2020. That deadline was missed. In the Company interim report in December 2019 that was communicated in February 2020 stated it would operational by second half of 2020. A recent announcement on 28 July 2020 also stating it will be ready for second half 2020. We are now in August and no firm dates for production of the new wellness product range have been provided? This has been a roller-coaster series of announcements pushing out the timeline on each occasion with no firm production dates or proper explanation. Are there issues with capital expenditure and cash flow? Have they encountered equipment issues or quality product testing concerns? The new cleanroom has been touted as the next biggest expansion that will grow revenue and there should be more clarity. I hope there is more detailed clarity around this expansion as the share price has been underperforming in 2020 and bouncing off the interim announcements of hand liquid sanitizing gel.
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