Receipts for the quarter were down significantly and unexpectedly to $638,000.
AVD originally announced that they had a US$20 million dollar loan facility. It now appears to be US$7.4 million and they have drawn down $6,140,000.
The operations manager has now changed. The previous operator was granted a large number of options to secure there services. They obviously were non performers. Lets hope the new operator performs.
A large number of convertible notes are due at the end of June this year at an issue price of 80 cents. I can bet they won't be converted. It will be interesting to see what they do about that. In this current credit crisis I would expect more asset sales to cover there future debt payments. At present they are substantially cash flow negative. $638,000 in cash receipts a quarter ain't gonna do it !
This company has been a huge disappointment. I can't see them lasting too much longer.
Add to My Watchlist
What is My Watchlist?
 (20min delay)
|
|||||
|
Last
6.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $18.63M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1492 | 6.6¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 6.5¢ | 10000 | 1 |
View Market Depth
| Last trade - 07.03am 18/06/2025 (20 minute delay) ? |
| TAL (ASX) Chart |
Day chart unavailable