Holders refuse to sell - well done, page-58

Hi getready,

Good mature response with some valid points by yourself. As mentioned previously I do believe they have a sound business model and actually did start recommending this as a potential buy to people in discussions when it hit 2c.

My statement was purely around the ability to manage a cash budget, experience in listings and with brokers.

In it's simplest form as per our friend googles own meaning "A cash budget is an estimation of the cash inflows and outflows for a business over a specific period of time, and this budget is used to assess whether the entity has sufficient cash to operate."

In other words forecast how much cash they will have and plan accordingly. . Self funding of $2mil, Chasing bank loans and then accepting a low ball CR at the death knock suggests to me they could have done a better job of this.

End of the day they have what they wanted and can now move forward and all of this will soon be forgotten. Just small things I like to remember about a managements ability to manage cash appropriately.