Ann: Quarterly Report and Appendix 4C, page-11

First 11 Last

Share
Profile

Follow
Puzzlehead63

131 Posts.

8

01/02/23

16:17

Post #: 66010633
Share

Originally posted by Harrycool: ↑

Well I am not going to bother dignifying this release with a long winded explanation like I did last quarter. I am going to wait for the final P/L and B/S which should prove very enlightening, if not completely soul destroying.

The only things I will say are that they managed to burn through another $4million of cash this quarter and have only $1.5million remaining. You figure out. They borrowed for assets to install in hospitals and for insurance cover. OMG how much more trouble can this mob conjure up. I do not like that they paid $1.5 million for inventory in advance, this usually indicates slow payments to creditors who are now demanding upfront payment.

If they can't refinance they have approximately two months cash left maximum. Heavens I am being generous there.

I personally don't see who is going to refinance them with a S/P at 5 cents or how many shares that would have to be issued to pull them out of the fire. If they can't find funds quickly kaput. There is nothing left to borrow against.

Causeway are holding a $2million guarantee against the debt also. Glad its not me.

These Directors better be very, very careful to not trade insolvent. That would be the final indignity for the old icon.

We now know why CommBank walked away along with KPMG. It just gets worse.

Expand

seems they are in a spot of bother!! in a capital market that is tight. be interesting to see what moves they make.

HIL Price at posting: 4.5¢ Sentiment: None Disclosure: Not Held
Upvote

0 Great analysis

Reply

Top Stories

Bitcoin hits fresh record as instos pile into BTC ETFs – and Trump helps, too

Week 44 Wrap: Relatively boring week ahead of US election; HotCopper's most watched; Oz inflation at 3.5%

MIN

Movers and Shakers: Zip Co, MinRes, Kuniko, more – The week's top ASX gainers

Palladium's the newest geopolitical hot commodity. But ASX exposure is limited

MIN

Ellison slapped with $20M sanction from MinRes but will stay on as leader – for now