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Bell Potter drops AMA target from $0.12 to $0.08, page-11

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05/06/24

08:05

Post #: 74166761
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Originally posted by Colnago: ↑

AMA have 21 days from the date of the 249 d notice to respond and the meeting where there is a shareholder vote has to be within 2 months from date of the notice.
Alex is a smart guy and very connected if he gets screwed I can imagine less options for AMA raising money off a good source.As with placements they are restricted to 15% of market cap and can only undertake 1 per year unless they have an special meeting and vote with shareholders to raise off more expensive finance companies or investors.
A gut feeling is in the early days Alex has been spun some sort of story about the financial prospects of the company that is a pipe dream even though the people who spun it probably believed them themselves and in all fairness we have to see the outcome of this quarter as at least the sites I know apear to be packed with work but intuition tells me there is something off as Ru said we need to hear Matt send an announcement out with clarity.
Definitely there is some serious risk of it continuing as a going concern.
Remember a while back Suncorp paid AMA 10mill in advance for future work well where is that in the current accounting has it been cleared.

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The 10mil prepaids should be sitting in the balance sheet as unearned income

AMA Price at posting: 4.4¢ Sentiment: Hold Disclosure: Held
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Last 4.7¢		Change 0.000(0.00%)		Mkt cap ! $84.90M

Open	High	Low	Value	Volume
4.8¢	4.8¢	4.5¢	$37.50K	802.4K

Buyers (Bids)

No.	Vol.	Price($)
1	15673	4.7¢

Sellers (Offers)

Price($)	Vol.	No.
4.8¢	340592	3

View Market Depth

No.	Vol.	Price($)
1	15673	0.047
2	128013	0.046
5	862999	0.045
2	265822	0.044
3	320790	0.043

Price($)	Vol.	No.
0.048	340592	3
0.049	235000	2
0.050	471100	6
0.051	534782	2
0.054	200000	2

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