Signs that may indicate your company is at risk of insolvency
ongoing losses
poor cash flow
absence of a business plan
disorganised internal accounting procedures
lack of cash-flow forecasts and other budgets (accurate ones anyway)
problems selling stock
problems obtaining finance
inability to raise funds from shareholders
board disputes and director resignations, or loss of management personnel
an expectation that the ‘next’ big job/sale/contract will save the company (my emphasis added)
Massive own-goal there. If someone plonked this company in front of you today and told you to invest in it, you'd tell them they're crazy. Problem is that so many people here are so blinded by pride that they fail to accept the state that the company is really in.
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- Ann: Response to ASX Appendix 4C Query
Ann: Response to ASX Appendix 4C Query, page-130
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