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Ann: March Quarterly Activities Report, page-245

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Ryzie

3,795 Posts.

1980

03/05/22

11:27

Post #: 61168106
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Originally posted by Ryzie: ↑

Doesn't explain why they didn't attempt to raise capital at 12c before the share price tanked. I don't have an issue with not being able to secure a funding facility. That's understandable, more customers needed to make it worthwhile for a funder, makes sense. I also don't particularly dislike the IDSB acquisition. I think there's merits for and against it. What I do have an issue with is, if you're going to make big moves like this you've gotta execute. Have a plan b.

This is actually what I was expecting, a plan b. The quarterly activities statement left a lot unexplained. Doesn't mean that it's the end of the road but there's a big question mark over what's happening particularly when there's no wiggle room, cash has been used. What now?

Expand

This is listing rule 12.2 under the section, "Ongoing Requirements".

It's fair to say that the liabilities are outweighing the current cash on the balance sheet. I'm wondering how long it's going to take the ASX to ask some questions of management.

IOU Price at posting: 11.3¢ Sentiment: Hold Disclosure: Held
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