The company has $600k in the bank. This means it will be insolvent within the next 30-60 days without a CR or debt facility. This is a total disaster and no junior company willingly allows themselves to get in this position. If they had a funding solution earlier then they would have completed it while in a position of strength.
Guess what happens when you try to negotiate funding terms from such a weak position? You end up with front row seats to a 30 day vasectomy. Hope you're not squeamish champ.
Ann: Quarterly Activities and Cashflow Report, page-47
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Last
0.4¢ |
Change
-0.001(12.5%) |
Mkt cap ! $14.55M | |||
| Open | High | Low | Value | Volume |
| 0.4¢ | 0.4¢ | 0.4¢ | $3.231K | 851.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 40 | 66433045 | 0.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.4¢ | 6126456 | 9 |
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| Last trade - 12.17pm 14/10/2024 (20 minute delay) ? |
| VRC (ASX) Chart |