Ann: Appendix 4C December 2020, page-17

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opel24v

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30/01/21

10:26

Post #: 50566852
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Originally posted by geekay45: ↑

Third Eye, you are absolutely correct in addressing Palermo's report or lack of. It demonstrates a complete disregard for the Shareholders and it is surely time to call for his removal as Secretary

The Report does not provide a basis for informing the market. It may be in accordance with Australian Accounting Standards but it does not provide any additional information over and above the minimum . In fact, section 8.6 , as Third Eye points out, does NOT comply

Net cash from operative activities ( 1474000) leaving 983000 or two months funding - February 2021 unless .......... or without ............( C.R. ? )
So, how can Palermo answer "yes" in section 8.6 ?
The Report calls for FULL responses to each sub section of 8.6

Specifically, 8.6.1 the answer should be "no" since the current level of net operating cash flows are negative and call for an "if not why not " response

Subsection 8.6.2 asks " what are those steps to raise further funds to fund its operations and how likely does it believe that they will be successful "
"Yes" is insufficient response without the explanation called for.

Subsection 8.6.3 again "Yes" requires amplification as to what basis does the entity expect to be able to continue its operations

I think Bean Counter is on to this per his "call to arms "in his last post. We have done it once , we can do it again.

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WTF

WFL Price at posting: 11.0¢ Sentiment: Buy Disclosure: Held
18 Upvote

2 Great analysis

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Ann: Appendix 4C December 2020, page-17

Duratec snags $76.5M in works from Woodside and Defence respectively - including spy network upgrade

Steadfast Group sees $600M wiped off on resumed trades after Four Corners feature

Firebird snaffles Environmental Permit for Jinshi plant

FBR's robotic home construction tech passes first US early-stage structural compliance check

Global Lithium latest hit by lithium downturn; shares fall -10% as Manna DFS paused

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Ann: Appendix 4C December 2020, page-17

Top Stories

Duratec snags $76.5M in works from Woodside and Defence respectively - including spy network upgrade

Steadfast Group sees $600M wiped off on resumed trades after Four Corners feature

Firebird snaffles Environmental Permit for Jinshi plant

FBR's robotic home construction tech passes first US early-stage structural compliance check

Global Lithium latest hit by lithium downturn; shares fall -10% as Manna DFS paused

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