Surely Insolvent. BIG Gross Profit drop, like nearly half of their GP wiped off, how does that happen.
Some quick calcs: 2023 Loss: USD2.9m = AUD4.45m 2023 Cash left at December: USD172 = AUD260k Raised debt last month: USD260 = AUD400k (Before fees too)
So from December to now they've had at most AUD~600k when burning AUD4.45m per year, they're out of cash again now! With added loss of GP could be worse.
What's the actual plan to avoid immediate administration.
NGS Price at posting:
0.9¢ Sentiment: Sell Disclosure: Not Held
