News: ZIP Zip Posts FY Revenue From Ordinary Activities From Cont Ops A$693.2 Million, page-75

Why does anyone believe the flashy purple presentations and management double speak that comes out of zip instead of looking at the evidence the figures can't lie.

They are not cash flow positive I'm any area as they published $127 million of corporate costs with no revenue to set it against in the segmental analysis.

A rumour by a well respected journalist in a heavyweght publication that they need to pull out of USA was not denied by a named executive in the same publication but by an unarmed "Zip spokesperson" in a low profile web magazine.

Suddenly the two founders who have been behind the company for ten years resign their executive positions in a "leadership update" obviating their disclosure requirements.

The share price declines sharply afterwards in the face of heavy selling.

They have approximately four months of working capital left and have so far relied on hedge or vulture funds who use the capital raise as guaranteed stop loss for shorting activities.

Any capital raise now would have to be at a heavily discounted price and even raising another six months of funding would require the issue of a further 250 million shares at a minimum.

There is simply not the daily volume of turnover to make this viable for hedge funds to short at these levels.

Convertable note holders have been happy to take cents on the dollar to relinquish their notes on the basis of something is better than nothing which Zip chooses to rebrand as a liability management exercise.