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I'm in no way trying to support this fraud, but the result isn't...

  1. convexity
    10,316 Posts.
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    20/12/23
    14:10
    Post #: 71549490
    I'm in no way trying to support this fraud, but the result isn't as "bad" as the headline number suggests (although "bad" in this context is put alongside "totally catastrophic"):
    1. If the numbers can be believed, there was still a gross profit so that's a win.
    2. The business itself only blead -$2.5m in operating activities.
    3. The net change in cash was -$2.1m (after $18m in capital raisings).

    So there still appears to be a business here.

    The question is, how *(%^&^%* are existing holders going to be after there "re-capitalisation".
    Last edited by convexity: 20/12/23
    AMS Price at posting: 6.5¢ Sentiment: Sell Disclosure: Held
    Likes Created with Sketch. 2  Upvote
    lightbulb Created with Sketch.  Great analysis
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