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29.5¢ quintis ltd

Ann: Trading Update, page-13

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tippy

296 Posts.

06/06/17

20:40

Post #: 25134147
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Originally posted by hottuna ↑

"Under the terms of its senior secured notes, the Company is required to provide quarterly financial statements to note holders within 60 days of the end of each of the Company’s first three fiscal quarters. The Company has historically elected to release these results to the ASX platform at the same time. The Company is currently assessing the impact of the developments highlighted in this Trading Update on its financial results and intends to update note holders and the market once the accounts have been finalised. The Company has discussed this delay with key stakeholders. Non-provision of timely quarterly financial statements by the Company would only constitute an event of default under the indenture governing its senior secured notes if the trustee under the indenture (or a requisite number of note holders) notifies the Company of such default and the Company does not cure the default within 30 days (and assuming such default has not been waived by a majority of note holders). As at the date of this update, the Company is not in receipt of a default notification from the trustee."

No accounts = event of default.

Goodbye.

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$17M will last them 3 weeks tops based on the current burn rate. Hard to beleive it will actually trade again.

QIN Price at posting: 29.5¢ Sentiment: None Disclosure: Held
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