There's those meaningless words again "information indicates" and "within the near future".
The March Quarterly report states that they were trying to secure short-term funding to get them through the next quarter - this June quarter - until it is in a position to demonstrate the MEMS GEN-II Chip - meaning they wanted you to believe the demonstration was anticipated by end of June.
The necessary timeframe has just about expired.
They burn through $1.4mil per quarter, so to "scratch together" funding for a few quarters, you're talking about $3 - $5mil.
If they had "scratched together" this kind of money they would have announced it. Fred might be tipping in some loose change to keep the lights on this quarter but there is no funding.
If the company manages to drag it's dying carcass through another couple of months and eventually demonstrates a working chip at a shareholder meeting, it will still not be allowed to announce a capital raising and it won't be relisted simply because of a demonstration. Things just don't work the way you are imagining.
Their half yearly accounts (30 June) won't be signed off by auditors because their position now is worse than it was in December.
Bullshit and promises will only take a business so far. It's utterly extraordinary that they've managed to take it this far.
Walls & ladders ...... yeah they only work for a certain period of time as well.
PET has been, and still is, under investigation by ASX, ASIC and AFP. It's quite probable that charges will be laid.
And you're puzzled why my commentary is negative LOL.
It can't go on forever and most of it will eventually come out into the sunlight. It will eventually all come out with AKP as well. Watch.
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