ID8 - Technical Chart assessment, page-2

@SreeHC

I'd suggest you should do some further reading into the debt...

As stated in the FY20 end of year report there are $848,930 of current loans and borrowings and $474,818 of non-current borrowings. I assume these are the figures which are concerning you.

I would then direct you to note 17:




Of the current loans and borrowings, 600K of the debt has been settled post 30 June and the balance is to a related party (the director).

The balance of the debt relates to lease liabilities which are now reported as a balance sheet item under new accounting standards.

In short, there is effectively only $100K in real debt and this was provided to the company by its director.

Hardly think that is cause for concern....

DYOR