let’s be real- all the last capital they raised before the self imposed suspension without what we know are a raft of serious material facts not having been disclosed has kept them going for a while
the company took many months to respond to asx queries and admits it’s not in compliance
With rules and due to this response has been officially suspended by asx
there was only 15 m ish left in liquidity at end of June - it’s now nearly end of October -(cash plus debtors less current liabilities )
capital will soon be gone as icc will not be sorted by the time it runs out at this rate—so they can’t then suddenly say oh we can now be compliant now we need more cash, loft suspension Asx that won’t fly-
so there isn’t much access to capital to stay solvent barring some highly dilutive placement I suppose which will no doubt Decimate holders, keep the directors in the lifestyle they are accustomed with high salaries and keep the administrator at bay whilst icc et all actions
Continue for a time( with whatever is raised)
a no vote in remuneration is just a warning to directors (strike) doesn’t change the fact, but people imo will be screaming if there is another agm in 24 because that means Avz raised capital somehow being suspended and that will be probably be pretty dilutive one would assume—- then people would be thinking - shsssh I wished invited against their remuneration report at least back in oct 23
Imo won’t be too long before we find out how they are going to keep the company going - because there simply is not enough cash to cover existing and new liabilities , salaries and wages, too much longer
but of course you vote how you like
AVZ Price at posting:
78.0¢ Sentiment: None Disclosure: Held
