And the icing on the cake - Cash flow from Operating Expenses alone was -$487k and the restructure is meant to improve the bottom line by $4M p.a. That's $333k per month. So they still need to increase NET revenue by $150k PER MONTH to break even on the operational costs, let alone Corporate and Financing costs.
And cashflow improving in the coming months... We all know it will be WAY worse in July, and worse still in August as lockdown restrictions increase.
And borrowing even MORE money!!!
No way can this 4C be taken seriously.
Ann: Monthly & Quarterly Activities/Appendix 4C Cash Flow Report, page-3
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