i think the market was right to be cautious: the 4C shows the company appears to be in a VERY precarious financial position, much worse than i expected, with only $1.2M cash left & is burning $0.5M+ from operations alone each quarter, with total net assets of $0.62M (exactly $621,792 net assets according to Appendix 4E as at 31/12/23, yikes!!!). then i also consider $2.8M is subsequently owed for the dodgy AIGC acquisition in cash/services & another $8M cash is owed to convertible note holders due in 4 months, on 27 August 2024.
MC is a lofty $22M, which is looking disconnected from reality?
Ann: FFG to acq strategic stake in AI-Powered gaming innovator, page-42
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Mkt cap ! $14.06M | |||
| Open | High | Low | Value | Volume |
| 1.1¢ | 1.1¢ | 1.0¢ | $11.05K | 1.087M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 17 | 9969932 | 0.9¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.0¢ | 596025 | 1 |
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