AGH will most likely need to raise capital soon, current liabilities outweigh current assets by $1.8m. Either that or they somehow manage to start generating free cashflow immediately. Buying back the convertible notes was a good idea, but now they have to deal with the discount the market is going to request for capital. The directors do say they have found areas where they can cut expenses, perhaps the MDs salary would be a good place to start?
Ann: Half Yearly Report and Accounts, page-56
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