Ann: Good Drinks Australia Partners with Rekorderlig Cider, page-8

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LongTony

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19/06/24

11:36

Post #: 74386716
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Originally posted by kf82: ↑

These are current liabilities (ie due within 12 months as per accounting standards as per their half year accounts 21 Feb). Yes they can review their facility but CBA obviously thinks its pretty high risk to take a charge out on $107m in assets. I'm also assuming they have started drawing on their $15m facility hence $50m.....as you know banks do their review on total borrowings even tho the $15m hasn't yet been drawn on....its like an individual who applys for a house loan the Bank does total liabilities which includes credit card debt regardless if it has been fully drawn or not

The Company has a borrowing base facility with the Commonwealth Bank of Australia with the following terms:
Facility Limit: $35 million
Interest Rate: BBSY + 1%
Term: Revolving, subject to annual review with the next review being 31 December 2024
Trade and other payables 41m
Lease liabilities (current) 1m
Borrowings (current) 7 29m
Current tax payable (711) (37)
Provisions (current) 1,348m
Total current liabilities 71m

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It's a revolving facility with an annual review. You can also see from the accounts that they hadn't drawn on the $15m. You also know that the receivables are bigger than the payables and that they grew by more than the payables in the half.

The bottom line was $1M profit.

Your posts are disingenuous which is disappointing

GDA Price at posting: 28.0¢ Sentiment: Buy Disclosure: Held
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Ann: Good Drinks Australia Partners with Rekorderlig Cider, page-8

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