Hi All,
We may get a company announcement this week detailing a near half million dollar boost to the coffers:
Civil Listing
Name Next Hearing Date Time Matter Title Matter No Hearing Type Jurisdiction Location 1 Structural Monitoring Systems Ltd 10/08/2017 09:30 Structural Monitoring Systems Ltd v Tulip Bay Pty Ltd & Anor ARB 7 2016 Directions Supreme Court David Malcolm Justice Centre28 Barrack Street, PERTH
This has been in for directions before so hopefully we get to see a result.
We are seeking repayment of nearly $440000 dollars + $costs (see Jan Quarterly) so this should be a pretty material boost and will finally remove the 3% gross royalty owed by the company (see prospectus, pg 63.)
This may have been one of the impediments to closing a deal and, hopefully, it ends soon.
GLTA
Half Million Dollar Boost.
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