I admit it's going to be tight EW but there are a few interesting little things in both the Annual report & The Quarterly which throw some doubt on the will we or won't we equation.?
First the directors signed off on the company being a going concern in the annual report which carries until 30 June 2022, though admittedly this is dependent on the ability to raise cash should they need to meet expense obligations.
4DS Memory, or 4D-S Pty Ltd being the responsible parent of the total group... Noting 4DS Inc is our registered US half Brother.. I wonder if he has any cash?
Anyway the payables for the next 12 months from July 1 2021 are outlined below.
With no other contingent liabilities
And a brief statement that we are in the business of developing interface switching reram tech for next gen storage in mobile and the cloud...
Hell we'll make our own market if we have too.. Although Global Foundries, Qualcomm & Samsung are pretty much established players in the mobile arena so perhaps they have some spare cash... ??
The after reporting date events we all know of and apparently were all BS anyway so bit of an exercise in admin only I guess?? hahaha Whatever
Now this is interesting cause it seems like we'd committed as far back as July 2021 to pay imec $250K in September and another $250K on Christmas day.... Which must be a Santa Claus bonus or something?? Anyway it was already committed although we were only paying them after the fact i thought?
Though it does seem funny that we were shelling out on the 25th and then Imec were walking on the 31st...
Which would have fitted with Hash's expose that the Mec had agreed to march on out of there but no... They still be hanging around with nothing better to develop it appears..
Now whether the 600 Euro includes the 250 Euro pending on the 25th is a question for the AGM, cause that is material..
And seeing how the board authorised everything they are the ones to know....
So then we get to the last Qtrly patience was hanging on for so long to see...
2.28 Qtrs remaining and no sign of any panic at this point by anyone of any note other than the doomsday preppers who just love a dolphin cull type CR when they smell one.
$2.8M left with an accepted $1m payable for the year as per the annual report and no other contingencies except for what we need to shell out Imec in the hope they can do a proper Jim Carrey on this next Mask...
Which is roughly $944k aud if the full 600k is owed... or roughly $400k aud Less if we've already advanced the $250 Euro Santi Slayer Cash...
So yeah it's going to be tight.. But we aren't a going concern past point of sale anyway so the BoD could argue the case to drain the coffers as far as legally allowed if a bidder shows up to auction day?
Here's hoping an off market punter see's the chance to open the field up on the turn and goes for the whip.. hey Ned? ;-)
8tey
