What a deal 250K 12% for 6 Mths with A Share option. Today’s 180 day Bank Bill Rate is 3.185%
If I was a shareholder I would be saying NO.
What happened to borrowing from HBSC have they said no. What has happened to the sales of the land? I not in Appendix 4c March “Bank overdraft facility” $750K Amount used $515K Balance $235K Cash burn March $231K.
Cash received $154K from AEH (Placement) & $274K from WAS (Placement) Total $428K plus Cash loan from WAS $250K loan. Total $678K
Current Cash burn Say $231K per Mth therefore April May Cash burn $462K. Total debt Bank $750K WAS Loan $250K total 1Mil.
Therefore at the end of May they could have Cash in Bank of $210K not enough to last ARW till the end of June.
They desperately need the land sale $2.7Mil or maybe some sales orders.
Why the hell is the share price so high.
TEK Price at posting:
1.7¢ Sentiment: Sell Disclosure: Not Held
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