If it came to a choice of accepting SG's shafting for 2cps and paying out creditors, I think I would choose voluntary administration. As I understand it some of the creditor heat is resulting from problems that they have. High on my list of actions would be to sack what is left of the board and the encumbent management team who appear to be putting their own overpaid jobs ahead of shareholder interests.
The inability to determine prices for fixing an electrical fault is indicative of an underlying incompetence. I think a full cash flow statement is long overdue but I suspect that there is no-one in the company who knows what a cash flow statement is or they wouldn't be hankering to be under DV's petticoat. DV may have approved $1m to have PWC review tax but somehow could not find the petty cash to prepare monthly cash flow forecasts.
voluntary administration
Add NXS (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
26.5¢ |
Change
-0.020(7.02%) |
Mkt cap ! $77.42M | |||
| Open | High | Low | Value | Volume |
| 26.0¢ | 28.0¢ | 25.0¢ | $49.18K | 189.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5084 | 26.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 28.5¢ | 12524 | 1 |
View Market Depth
| Last trade - 16.10pm 30/07/2024 (20 minute delay) ? |
| NXS (ASX) Chart |