Ann: Statutory Demand Update, page-3

First 3 Last

Share
Profile

Follow
sk1pper

140 Posts.

48

25/05/18

16:38

Post #: 33313191
Share

Originally posted by sk1pper ↑

So, TKF have settled the initial statutory demands (presumably out of the Regency funding) for $396k but have a further $240k demands relating to, I assume, the same issues? This would bring the total for statutory demands to $636k, more than half of the initial funding from Regency.
With the legal costs of this process and the whole East Star Capital deal looking like a big fat zero, you have to wonder how long they can continue to sit and fidde while Rome burns.
During this entire period of little or no trading it seems that business development has gone by the wayside so no new deals in te pipeline?
After the Market Update announcement that reveals that they have only three current paying contracts and no mention whatsoever of the Jobseeker Platform cotract as either "ongoing" or "current", their burn rate seems still nearly thee times their running costs. This will quickly eat up the remaining $800k through Regency.
KB and DA are going to have to pull a rabbit out of the hat to turn this around.
I wonder if the motion to remove the MD and Chairman by the 19% block of shareholders still stands in the light of the statutory demands payouts?
Any bets on a trade halt again as the price drops further?

Expand

Sorry, guys, I meant to say that their burn rate is nearly three times their revenues, not running costs.
My bad.

TKF Price at posting: 0.8¢ Sentiment: None Disclosure: Not Held
2 Upvote

0 Great analysis

Reply

Top Stories

LU7

The Breakdown: Lithium Universe talks financial modelling and lithium pricing in strong preliminary feasibility study for Bécancour

RCE

Recce eyes Indonesia for novel anti-infective as Indo-Aus ties grow stronger

COD

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

ASX Market Open: Middle East tensions push oil higher and Wall Street lower, reverberating on the ASX200 | October 4, 2024

ACW

Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

There are more pages in this discussion • 5 more messages in this thread...

First 3 Last

Add TKF (ASX) to my watchlist

Ann: Statutory Demand Update, page-3

Top Stories

The Breakdown: Lithium Universe talks financial modelling and lithium pricing in strong preliminary feasibility study for Bécancour

Recce eyes Indonesia for novel anti-infective as Indo-Aus ties grow stronger

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

ASX Market Open: Middle East tensions push oil higher and Wall Street lower, reverberating on the ASX200 | October 4, 2024

Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

Featured News