CHM have to pay - $112,500 by the 17th Feb $29,274 3rd March $112,500 2 weeks before court case $15,000 per day in court They have costs of about $30,000 per week to run the company. The 3rd and 5th defendants can ask for more security. They still have to pay the previous law firm. CHM has $99,000 cash.Assuming a 7day court case that is about $700,000 they have to find in the next 3 months. I am not bashing CHM but surely even the most loyal CHM holders must be asking questions.These costs did not suddenly appear good management would have done a cash flow budget before they even took on this case.Even if you win the court case does that guarantee a cash payment.We are talking serious money I wonder who is prepared to throw this kind of money at a company that has nothing other than this court case.CHM have been in trouble with ASIC before and this amount of money is enough for them to have a lot of attention from ASIC in the next few weeks. Good luck Tooli
CHM Price at posting:
0.7¢ Sentiment: ST Sell Disclosure: Not Held
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