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roofy

681 Posts.

103

15/02/22

08:36

Post #: 59571139
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Originally posted by canemcalcitro: ↑

Their new interim financial statement is up on SEDAR. If anything, it's worse than before. They've lost another $7M and are down to about $1.45M . Their liabilities would now exceed their assets aside from the amusing concept that they have $9M of goodwill.

There's discussion of how they could still be a going concern if they could find some thrillseeker willing to lend them money, but that the old arrangement with LDA Capital is kaput due to stock price and trading volume. Supposedly "end of February 2022" is when they'll find some short term cash to tide them through for 4-5 months.

At this stage it looks academic what ASIC asks for (in terms of damages/costs) from the company itself - it's hard to imagine GSW having anything left by the time appeals are done.

Incidentally, the segment information shows 90% of the revenue is Serbian, so none of the other aspects of the business seem to have worked. Of course, neither did Logo.

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Thanks for the summary. Never would have thought it'd end up like this.

GSW Price at posting: 29.0¢ Sentiment: None Disclosure: Not Held
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