"Nothing much to say until June 30ish by the looks of things, it sounds like due diligence is complete."Bit of waffling there mate ?
Why not give it a shot at substantiating your reasoning around DD being complete.
What about Continuous Disclosure to the Market on what the current state of finances are and an Operational Update ?
Their unwillingness to provide either of these is very concerning, don't you think ?
All we know about cash on hand dates back to the quarterly for end-Dec - $8,373,000
In that Dec report, it shows ZERO INTEREST for both that 3mth period
AND ZERO INTEREST for the cumulative SIX MONTH PERIOD up to end Dec -- Item 1.4
Then have a look at Item 1.5 - 'Interest and other costs of finance paid'
-$21,000 for the quarter versus -$24,000 for the 6mths.
This is a major escalation from -$3k to -$21k (qtr on qtr) with no explanation on this cost.
So, going from a positive circa +$190,000 Interest Paid for the previous FY
to a Negative -$24,000 for the next 6 months...doesn't that ring any bells ??
Dyor and feel free to share your own DD on why it's gone from interest being paid on +$8m to a charge AGAINST what cash was previously there (the +$8) for FY 2021-2022.
Of course item 1.4 (Interest Paid) is different to item 1.5 (Interest and other costs of finance paid) but as I said, there's nothing further (that I can find) on what this cost is about.
If one has a look at the FY21/22 report, it shows a loan (p57) to Sholom Feldman of $5,402
Isn't that a very strange action ?
A loan to him of $5,402 when his salary had been $312,000 ???
Would that loan amount be a precedent to a higher, more recent amount ?
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