Ann: Suspension from Quotation, page-70

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Jerry_

116 Posts.

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01/03/24

21:05

Post #: 72705204
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Originally posted by jessica211: ↑

Hi Kfann,

I don't disagree with your quantitative analysis of where the cash position could be at, although they surely must have banked some receivables from existing contracts in the two months since the half year end. On page 5 of the Quarterly report there was a statement "Program, invoicing and receivables collection delays of $1.5M impact Q2 operating cashflows". At the time I read that as not all being a result of program delays, but that some receivables were actually overdue and, presumably, were being actively chased up for collection.

In earlier days (2018 / 2019) I felt that Ian showed he was very adept at keeping tight control of the limited cash available and running the company as lean as possible. I recall the first quarterly that reported any revenue and it was only about $30k!. Avoiding capital raisings and dilution as much as possible whilst growing the business on a tight budget has clearly been the Board's strategy.

What intrigues me is WHY a founding shareholder, presumably someone very close to the situation and who would have been well briefed, would put $1M on the table if it was simply going to be written off within a few short weeks. That doesn't seem rational for anyone to do, regardless of how emotionally invested or wealthy they may be. So, with my fingers crossed, I hope (optimistically, expect) that the $1M has provided the bridge that was required.

Regards.

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I agree and note 1 states

3DP Price at posting: 4.9¢ Sentiment: Buy Disclosure: Held
14 Upvote

2 Great analysis

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