SPX

11.1%

1.0¢ spenda limited

Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-348

First 348 Last

Share
Profile

Follow
lithiumburn

4,674 Posts.

763

03/02/22

11:56

Post #: 59326312
Share

Originally posted by wasko: ↑

From my perspective, they need to:

(a). Get rid of Neu Capital. What advisor in their right mind pushes the company to go from one debt warehouse to two when the company:
-Has little revenue.
-Barely enough cash to fund one DW let alone two.
-Hasn't proven the demand for lending yet. Start small and simple then get as complex as you like when the revenue is rolling in and there are efficiences to be gained.

(b) Hire someone who has built a successful tech business before. This isn't AF, unless you count the aquisition of AppStab by CRO as his crowning achievment which was a ludicrous price to pay for a company with next to no revenue. I no longer buy the whole "we needed the tech/IP" either, could have built something new for much less given there was hardly anyone using it (revenue backs this up).

(c) Immediately cut half the worforce. The acquisitions they've completed have added zero value to the business and diluted shareholders substantially while significantly increasing staff costs. The focus should be on becoming cashflow positive as quickly as possible to stem the bleeding. Stop working on all the new stuff that people won't use when we already have a bunch of stuff that people don't use.

Also, I suggest everyone no longer takes AF at his word. This is the person who said DW by Christmas, yachts in the Maldives and $5m per quarter soon. At this stage it's looking more like tiny DW by April at the earliest, having to sell your boat if you're lucky enough to have one already and if they get to $1m per quarter soon we should count ourselves lucky.

Make no mistake, I now see this as a company in distress. Huge quarterly overheads and minimal customer acquisition - node and spoke clearly isn't working, if customers were flooding onboard you wouldn't try to just 'work with what you have'. Over $3b SOI which means substantially more dilution for all holders if they need to do a new cap raise and that's if they are even able to find support from sophisticated investors for a raise.

The business needs a major overhaul, the question is whether management will continue to cling to their delusion of grandeur or will bite the bullet and make some hard decisions.

Expand

Was not too long ago that you were giving me grief for stating similiar to what you just posted

CRO Price at posting: 3.4¢ Sentiment: Sell Disclosure: Held
4 Upvote

0 Great analysis

Reply

Top Stories

ASN

Utah authorities sign off on Anson's lithium extraction plans at Green River

AZY

Antipa divests its Citadel interest to JV partner Rio for A$17M, refocuses on Minyari Dome

VUL

Vulcan appoints investment bank and M&A veteran to board

MM8

Medallion Metals kicking off 15,000m drill run at Ravensthorpe gold play

Week 37 Wrap: HotCopper likes Cuban oil; markets shrug debate off for Putin; firebrand quant says social media a market threat

ENV

Enova Mining unveils "high-grade" REE drill hits at Coda North, Brazil

NAM

Olam Agri raises Namoi takeover offer to 75 cents a share and receives shareholder backing

Dale Gillham's weekly wrap: US fracking support boosts outlook for Australian gas stocks

MLS

Metals Australia kicking off plant study at Lac Carheil; Canadian tariff tailwind potential

MKG

Mako sniffs gold at 170 g/t at Cote d’Ivoire's Napié play

There are more pages in this discussion • 178 more messages in this thread...

First 348 Last

Add SPX (ASX) to my watchlist

(20min delay)
Last 1.0¢		Change 0.001(11.1%)		Mkt cap ! $43.24M

Open	High	Low	Value	Volume
1.0¢	1.0¢	0.9¢	$2.109K	231.3K

Buyers (Bids)

No.	Vol.	Price($)
18	10001408	0.9¢

Sellers (Offers)

Price($)	Vol.	No.
1.0¢	4124830	11

View Market Depth

No.	Vol.	Price($)
18	10001408	0.009
16	9451685	0.008
11	8285419	0.007
6	3283500	0.006
2	1300000	0.005

Price($)	Vol.	No.
0.010	4124830	11
0.011	4686363	7
0.012	13350728	14
0.013	6369300	6
0.014	3724500	7

Last trade - 16.10pm 13/09/2024 (20 minute delay)

SPX (ASX) Chart

Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-348

Utah authorities sign off on Anson's lithium extraction plans at Green River

Antipa divests its Citadel interest to JV partner Rio for A$17M, refocuses on Minyari Dome

Vulcan appoints investment bank and M&A veteran to board

Medallion Metals kicking off 15,000m drill run at Ravensthorpe gold play

Week 37 Wrap: HotCopper likes Cuban oil; markets shrug debate off for Putin; firebrand quant says social media a market threat

Enova Mining unveils "high-grade" REE drill hits at Coda North, Brazil

Olam Agri raises Namoi takeover offer to 75 cents a share and receives shareholder backing

Dale Gillham's weekly wrap: US fracking support boosts outlook for Australian gas stocks

Metals Australia kicking off plant study at Lac Carheil; Canadian tariff tailwind potential

Mako sniffs gold at 170 g/t at Cote d’Ivoire's Napié play

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-348

Top Stories

Utah authorities sign off on Anson's lithium extraction plans at Green River

Antipa divests its Citadel interest to JV partner Rio for A$17M, refocuses on Minyari Dome

Vulcan appoints investment bank and M&A veteran to board

Medallion Metals kicking off 15,000m drill run at Ravensthorpe gold play

Week 37 Wrap: HotCopper likes Cuban oil; markets shrug debate off for Putin; firebrand quant says social media a market threat

Enova Mining unveils "high-grade" REE drill hits at Coda North, Brazil

Olam Agri raises Namoi takeover offer to 75 cents a share and receives shareholder backing

Dale Gillham's weekly wrap: US fracking support boosts outlook for Australian gas stocks

Metals Australia kicking off plant study at Lac Carheil; Canadian tariff tailwind potential

Mako sniffs gold at 170 g/t at Cote d’Ivoire's Napié play

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News