interesting that the pending insurance claim provision is shown in table 1 of the report. This is a 'bottom line ' item of the consolidated a/c,s
There will be repurcussions to the financial viability of LIT but that is not till the claim is settled. This report is about the Progress of the recycling division. They will need to generate more profit to keep LIT in business. The financials for Y/E '74 will be interesting. With the insurance provision included Envirostream show a loss of $6mil. Surplus bought forward from previous year $5 and a bit mil. So that wipes out the cash. I would stall the payment of the insurance claim as long as possible and look to raising more funds, but where ?? AG scuppered any more ASX capital raises even if Envirostream has the ability to put forward a business plan.
12mil SOI traded today on news that really doesn't improve LIT's position says to me that LIT' financiers are trying to unload all those free shares
all IMO
LIT Price at posting:
2.3¢ Sentiment: Sell Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)