That’s what happens if you invest… blindly. 
I took a look at the report out of interest (digging through dumpsters for bottle money hasn’t usually been my thing) and something like 70% of the balance sheet is goodwill. Since there was 4.6 million in cash at the turn of the year, they’ll need some more dough pretty soon. This year, despite the promises, there’s no way they’ll be anywhere near a positive result.
On the other hand, how possible is a share issue, when even the former owners have been happy to dump stock into new pockets at any price. I suppose the board’s maximum will be diluted for starters, so about 21% worth. Someone will snatch them up anyway, hoping some gullible soul picks them up later on the back of some great-sounding hyperbolic news (wait a minute, are we talking about bitcoin now).
As a bigger positive, the boat business seems solid, but that’s where it ends. They haven’t even bothered lying about the drones for a while now. Starting their production is already brutally late, and especially the value of the businesses inherited from Savosolar is probably mostly negative. I thought the only positive thing was that the existing Savosolar production facilities could be upgraded into mass production facilities for drones, but that hasn’t happened.
And there’s still no estimate for the drone production scale at this stage, while at the same time one reads about Ukraine cooperation on massive scales all across Europe. The cash on hand isn’t enough for big plans, and at least the new CFO’s CV isn’t convincing yet. If both are still employed next year, then things have gone incredibly well. Maybe just surviving through the summer would already be a 10/10 performance.