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Ann: Arena Statutory Demand, page-28

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lakota6

8,835 Posts.

1048

07/11/18

09:31

Post #: 36412807
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Originally posted by Davisite ↑

What investor in their right mind is going to put money into NXE while this is going on? Arena is also claiming the break fee too which is another $2.5 million on top of the $2.6 million NXE admits it owes Arena.

At this point the only interesting question is if NXE going to ever come out of suspension or not. They have just admitted they are trading while insolvent as they don't have the funds to pay even what they say they owe Arena. The SA directors probably don't care about this as there is no way ASIC can go after them, but you would have to think the Australian chairman would be worried.

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Which also makes the whole VS seem strange. Here they were spruiking of a an imminent finance deal and the whole time knowing they owed Arena at least $2.5M .
As you say who would put money into this mess.
Imo , will never trade again.

NXE Price at posting: 7.3¢ Sentiment: Hold Disclosure: Held
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