Ann: FY22 Appendix 4E Preliminary Final Report, page-117

I am not sure if I should be sad or mad at how many hapless retail investors have just stood like rabbits in the headlights as their hard earned cash has been transferred into the personal bank accounts of the BOD and founders of the acquired companies.

Its kind of a reverse Robin Hood scenario transferring wealth from the poor to the rich.

The figures dont lie as they lost over $300 million on cash basis and un rate is $25 million a month giving them just around a years worth of cash.

As @lobbster77 and @Tekvest have pointed out the key metric of bad debt, interest and bank charges are all taking up an increased amount of income so the chances of them turning it around are very slim and probably non existent.

They have been able to raise capital in the past from hedge funds who would short the shares with a guaranteed stop loss of the floor price of the CR but I don't see they will be able to do that any more.


If the next CR is at 30 or 40 cents they would need to issue almost a billion shares and there is simply not enough daily trading volume for hedge funds to sell into.