In recent presentation they state there has been a working capital improvement of $30 mill. over the last six months. (payment goof balls). Not working capital extension. The total working capital has been hugely reduced. They do not have to report current balance for the quarterly. MACA have a strict guideline on payments. BLK have done that. If you look at September report. etc. and history reports Working capital may be still around $14 mill. owed/ due in March is a guide. I think people are thinking it has been blown out again. MACA will not allow this. This $14 mill.(or so) has extensions with provisions which BLK has abided by so far. Hence the need for a raising of some sort in the March quarter. To relieve financial stress. MACA will not bail if BLK do not pay. However it would be in BLK best interest to cover. Please give me another opinion if you want. This just mine. DYOD. This is why the share price is at one cent. Once finance is done. Without equity, investors and MACA will be very happy.
BLK Price at posting:
1.1¢ Sentiment: Hold Disclosure: Held
