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08:17
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Originally posted by 61289439:
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Based on the previous quarters they will need this money before end of December or there could be a problem with cash at bank for auditors to sign off. To be relisted they had to do a CR to get more money in the bank to satisfy ASX. Then for June quarter they had to do the $1.2M CR (where Clee got all his stock from) for the auditors to sign off on the quarterly. Same thing then happened for Sept quarterly where they need to complete the SPP to raise enough money to satisfy the auditors.
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They will need to spend vast amounts on IT and marketing, with inhouse salaries. Costs to set this venture up will be huge and varied and way ahead of any revenue.
(20min delay)