This is going to drop like a stone. My prediction - 30c.
No competent financial analyst would put a floor on cash backing, they put a floor on liquidation value. Considering the fees paid for the raising, the legal and PWC fees, liquidation value is far less than cash backing.
This is a great case study in how many red flags you can ignore before you have regrets. I know I have been guilty of this in the past.
Ann: Appendix 4C - quarterly, page-123
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