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Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-54

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CaptainBarnacles

11,118 Posts.

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27/10/22

11:39

Post #: 64428070
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Originally posted by GiddyYup ↑

Okay, I am a little concerned about the adherence to the rules now. Only 3 days ago they released the quarterly and failed to mention this CR announced today. I fail to believe that this entire capital raising along with underwriter have all been put together in 3 days. Remember the ASX guidance is as follows:

"Section 8 may require the entity to disclose confidential information about an incomplete transaction, such as a new capital raising or other financial accommodation it is working on to address its cash requirements. If this is likely to cause the entity any concern or embarrassment, the proper course is not to “fudge” its disclosures in section 8 of its Appendix 4C or 5B but rather to indicate in its answers to the questions in section 8 that the entity is in incomplete and confidential negotiations for a transaction that, if successful, will improve its financial position and, if its securities are still trading, that it will be requesting a trading halt or voluntary suspension to allow it to progress the negotiations to a point where it can make a more detailed announcement to the market about the transaction."

Looks like they chose the fudge option instead. I believe the ASX should be asking them to explain this.

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They possibly had an underwriter ring up after some clients said they want in and will sub it. I would if I had lots of cash. Super cheap and significantly based on cash levels rather than the IP.

Last edited by CaptainBarnacles: 27/10/22

BIT Price at posting: 3.6¢ Sentiment: Buy Disclosure: Held
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Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-54

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Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-54

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