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35.0¢ cambium bio limited

Agree Z.The only thing that gives me a modicum of hope is AGCs...

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bioqld

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03/02/20

21:45

Post #: 42726150
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Originally posted by zeno9: ↑

Hi bioqld

However you look at it, things are dire.

The Appendix 4C Quarterly shows that there is insufficient cash to get the company through to the end of the current quarter which ends in just under 2 months on 31 March. In that regard, I'm not sure that the remaining $1.1 million in loan funds from certain Directors is going to be of much use to the Company unless the term is extended, because as things currently stand, the loan is repayable in March 2020 (see the note on page 6 of the Appendix 4C Quarterly).

So, unless a commercial deal on Progenza is done sometime before the end of this month (February), with an attendant, substantial and immediate cash payment to RGS, I think prudential requirements will dictate that the only likely alternatives are either 1) another heavily discounted placement by the Company some time in the next few weeks (if there is in fact any residual demand remaining from investors); or, 2) agreement from the relevant Directors to extend the repayment date on the $1.1 million loan facility beyond March 2020; or, 3) bring in the Administrators.

Regrettably, I'm starting to lighten my holding in the expectation that some accumulation of tax losses may be all I can ever expect to receive from RGS.

zeno9

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Agree Z.

The only thing that gives me a modicum of hope is AGCs position. Why they converted their interest to major shareholder of a Co that potentially is bankrupt in the same quarter... bit not selling down (I assume just by volume trade) I need to look into that more, I suspect I'm missing something.

I'm out either way this quarter, deal = money back, no deal = carry losses forward for ASX IMM future earnings

RGS Price at posting: 7.1¢ Sentiment: Hold Disclosure: Held
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Agree Z.The only thing that gives me a modicum of hope is AGCs...

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Agree Z.The only thing that gives me a modicum of hope is AGCs...

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