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There may be some commentary tomorrow on how they are going to...

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lakota6

8,835 Posts.

1048

31/07/18

18:11

Post #: 34653704
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Originally posted by pe981 ↑

Yes exactly. It does not explain at all where the shortfall from expected expenses is coming from. We were previously advised that the Arena tranche 2 was amended with part 2a drawn as shown in June quarter. The amended Tranche (2B) was to be drawn after 25/6 so presume that has been drawn in July. That amount was for $1,805 so coupled with cash on hand at 30/6 totals 2,638k and still not enough to cover forecast expenses of $2,819. The amended tranche advice stated that further tranches were unchanged and to be drawn min 3 to 4 months after prev drawing. (Not sure how you can have minimum 3 or 4 months, but anyway)
It was unclear whether that time frame started after tranche 2a or 2b. We can only presume it started after 2a in which case tranche 3 may be drawn sometime in August or September which (we can only presume) will cover the shortfall.
Hard to fathom how they can forecast a large shortfall without any sort of comment how it will be covered!!

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There may be some commentary tomorrow on how they are going to meet expenses. Hope they say something as the market will be left wondering.
As we are already 1 month into this quarter , so the $833K from June 30 will be well spent by now so Arena must have forked over the $1.805M

MUS Price at posting: 1.7¢ Sentiment: Hold Disclosure: Held
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