Their precarious working capital position and overall financial performance is such that they may be unable to secure credit facilities at reasonable market rates and are therefore reliant upon the generosity of shareholders to keep them afloat as a going concern.
The notion that a business cannot go broke if it doesn’t have debt is complete and utter nonsense.
Unless and until they can demonstrate a fundamental and sustainable improvement in the company’s financial performance and its fortunes soon, it’s on borrowed time imho.
Jeffreries Target Price-$0.60, page-113
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