Traditionally, earlightswindle.com makes Valkee’s balance sheets publicly available. Here is it for the fiscal year 3/2015 – 2/2016:
Revenue is down to 426.000 Euro from 645.000, again -35%. That’s directly continuing the long-time downward trend (2014: -44%, 2015: -40%).
Loss is also down, to “only” 1,646 million. Now the equity ratio (omavaraisuusaste) fell sharply, own capital is now negative (-1,049 million). In other words, there’s nothing left than debt. Banks and investors will not recover what they gave.
Last year, there was still some money left from the 7,3M investment. That’s completely burned now, and an additional million evaporated. As last year, Valkee got an audit warning. Now plus a clear prognosis, that the company will run out of capital during the next 12 months – cease to exist – if no new cash is found from some easy-to-fool investor. Or the americans buy millions of HumanChargers.
Update:
The snail media has reacted to this post: Kauppalehti 1 | Kauppalehti 2 | Talouselämä
Valkee’s CEO Aki Backman made absurd comments. Interestingly, he admitted that the earlight does “practically” not sell anymore in Finland. An open secret, now confirmed.
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