iCar Asia: receipts fall short

Revenues are growing more slowly than the market hoped, and the risks of another capital raising have jumped.

As we suspected might be the case, in iCar Asia’s speeding ticket on 12 July 2016 (Speculative Buy – $0.80), there was fire beneath the smoke. Today’s release of quarterly cash flow numbers showed that, while revenues are growing quickly, they’re unlikely to meet market expectations this year.

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