I’m stuck with a company that sold all its assets and didn’t...

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brpuffnstuff

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23/06/23

17:09

Post #: 68442796
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Originally posted by captainblood: ↑

not saying we will run out of money. just what are the consequences of having less than 2 quarters of money.

jan quarter staff costs $1.54m
April quarter staff costs $1.62m

our staffing cost will be down this quarter we have let go of at least 8 staff, some since march that were involved in regulatory approval for eugeni and 2 of our most highly paid staff members in Charlie and conor in this quarter, so our staff cost should be down.

we hired a hydrogen scientist the last fortnight and advertised 3 prod positions that haven't been filled yet.

we have also been told that revenue will be higher this quarter ( not hard to improve on the last)

so if we reduce costs and increase revenue and have say 1.5 quarters or higher of funds, with the promise of more funds to come what would be the asx response.

I always thought that you needed 2 months to be solvent but it's not the reality if WFL is used as an example.

just asking what happens if you drop below the 2 quarters threshold ?

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I’m stuck with a company that sold all its assets and didn’t really have a plan on what they were going to do to continue operating as a company. ASX placed their shares in suspension until they can demonstrate they are able to comply with ASX listing requirements. That was just over 12 months ago.

I guess that’s a potential scenario, ASX imposed suspension in trading

ADO Price at posting: 4.5¢ Sentiment: Hold Disclosure: Held
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I’m stuck with a company that sold all its assets and didn’t...

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I’m stuck with a company that sold all its assets and didn’t...

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