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Operational Update released today which was light on detail.
Couple of points that would be of concern for me:
A detailed review of the specialist pultrusion machinery being used in the manufacturing of the BLOCKPal™ pallets has identified that machines from certain suppliers are significantly more efficient when operating at high capacity.
Since IPO, the Company has continued to test and make improvements to the design and construction of the BLOCKPal™ pallet...
The company still seem to be figuring out what the most efficient manufaturing process is. In addition, the actual design and construction of the plastic pallet seems an ongoing process.
RM2 was founded in 2007 so I would have expected this to have been nailed down and known in detail prior to an IPO. How can they market this to large customers if the pallet itself is still evolving?
