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3.1¢ painchek ltd

Ann: Appendix 4D and Half Year Report, page-22

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AndyL2880

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03/03/22

22:45

Post #: 59968907
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Originally posted by Screenlover: ↑

I too believe that taking on the ATO is a waste of time and money. They have no end of lawyers just waiting to take on Companies and bury them in expensive long lasting cases. Seems like a lot of money but no good throwing good money after bad.
Looking forward, revenue is not going to cover costs by mid year so alternative funds will be required as stated in the 1/2 yearly.
As simon says, it will be another dilution of share value and would be a slap in the face for LTHs with value destruction.
Yes there is revenue coming but not enough to cover the latest cash burn. All expenses are up, and revenue is not keeping up, although pipeline works and contracts are increasing, I think more effort should have been put into implementing beds, it’s taking an eternity. Only 50% of contacted beds have been implemented, understanding Covid has slowed the process, but put more people on that as it’s revenue in the bag, not employ family to take up office space and increase overheads.
I would rather them take on debt than go for another round of credit raising. Too many shares out there already. They should be able to borrow on projected income. Also if it’s not free money, perhaps more diligent spending would occur, cause at the moment, costs are out of control.
All in my opinion.
cheers to All holders.

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Screen shot from Simply Wall Street re Painchek.

Cash runway for 1.7 years, last updated by SWS March 3rd....

PCK Price at posting: 4.2¢ Sentiment: Hold Disclosure: Held
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