Weirdest Stock on the ASX., page-440

It's crunch time for Fred & Co.

Excerpt from the Half Yearly Accounts:

Working Capital
The Company will need to obtain further funding via an equity raise or additional debt
funding by November 2023 to fund anticipated cash outflows for the 12 months post the
signing of this financial report. The directors plan to obtain short term funding from further
convertible notes, placement of shares and further drawdowns and deferral of the Company’s
existing loan facility with 4F Investments Pty Ltd.
In the opinion of the directors, the ability of the consolidated entity to continue as a going
concern and pay its debts as and when they fall due and payable is dependent upon:
• The receipt of the 40,000 pre-production chips to specification from Earth Mountain
in September 2023 to enable testing and subsequent demonstration of the product;
• The successful completion of the current testing phase of the technology, enabling
the consolidated entity to successfully demonstrate the technology’s capabilities and
negotiate commercial contracts with interested parties;
• Shareholder approval at an EGM in October 2023 of additional convertible notes to
be issued by the Company to a director-related entity, 4F Investments Pty Ltd, to
raise $500,000 on the same terms and conditions as the May 2023 convertible notes;
Drawdown the remaining $250,000 of the current unsecured loan facility with 4F
Investments Pty Ltd by November 2023;
• The receipt of the Earth Mountain proceeds from the August 2022 placement in
November 2023;
• The ability of the Company to secure additional capital by November 2023 to fund
working capital requirements and fund the production ramp up, including payment
of the USD$9,600,000 purchase order for Earth Mountain, with payment to be made
on a progressive basis commencing in December 2023; and
• The ability of the Company to defer repayment of the abovementioned original
unsecured finance facility with 4F Investments Pty Ltd or to raise additional funding
to repay the expiring convertible notes in January 2024 should they not be
converted to equity.

Radio silence.....