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21/10/19
16:49
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Originally posted by PinkBunnyRabbit:
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Hi All, Took the dog for a walk - can barely bring myself to look at AJM's daily share price movement. At least my dog can cheer me up a little. My concerns (Canaccord 4c price target and Macquarie Bank price downgrade): 1. If capital raise fails can AJM remain solvent - considering we had to take an emergency AUD 2.8 million from a director - nothing from a bank / lender or typical debt provider. 2. The capital raise at 6 cents is looking increasingly unlikely as AJM's share price slowly track lower every day - 5.6 cents at time of posting - if capital raise price is dropped to 5 cents then we are much more likely to receive funds that we keep us afloat. 3. No measures announced by AJM to reduce costs - eg. management please lower salaries during the period we are losing money and have 1,098,000 in the bank at end of September - how is the plant operating? 4. No mention of share price consolidation - it will help in my opinion. Have reached out to AJM but got no response back. 5. No commentary on the breach of debt covenants in September 2019 - when is AJM going to update market or provide assurance that all debt providers have agreed to waive their rights to enforce? Is this going to be another ASX forced disclosure - like January this year? Really no communication at all. If we want this capital raise to be successful clearly we need to rethink the price as well as communicate with the market the positives about the company and actions management are taking to rectify the very weak financial state we are in. Would love to hear any positives..... as feeling extremely depressed today. Pink.
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Hi I'm in same boat down alot I've averaged down but have to hold for at least 2 years to get money back . I don't think it's going bust Alan has to much at stake over 300 million shares Can't worry to much as it's only money lot of worse off people out in world with health issues etc