You are stating the obvious here @fabspro, I mean AKP have been at this for going on 20 years.
What you basically seem to be saying is that the market perhaps shouldn't be relying on things the company has announced in terms of timeframes and expectations, or put another way, there's a possibility that some comments the company have made could maybe be seen as misleading, and also confirms ASX was rightly justified in questioning AKP's compliance with proper disclosure listing rules.
Here's some snippets:-
From Sept 2023:
"The final steps of wafer fabrication and chip packaging have been carefully scrutinized and addressed to satisfaction."
"...management is satisfied that all remaining issues that have been or might become problematic have been fully addressed."
"Given the resounding success and reception of our first-ever public technological demonstration, management is increasingly confident that the company’s commercial objectives can commence sometime in Q4 of this year."
From Dec 2023:
"In order to meet AP’s precise technical specifications, EM is working hard to resolve one key manufacturing challenge and is hoping the completed GEN-2 DSR chip will be delivered in the very near future”.
"....management had no choice but to adjust it strategic plans involving customer engagement from early to the latter part of Q1-24."
The 2023 Financials dated 28th March 2024 state that the directors have adopted a going concern basis for the reporting on the assumption of successful outcomes of a number of conditions, one of which is "the successful completion of the current testing phase of the technology during Q2 of 2024". Another is the ability of the company to secure at least $3mil in funding "to fund the working capital requirements of the consolidated entity until the completion of the testing and enhancement of the technology".
The auditors report dated 28th March 2024 states that they can find no audit evidence as to whether the company will achieve any of these conditional outcomes.
The company has said it will run out of cash DURING April. Could be next week.
On top of all this, at least one of the "sofisticated investors" (as at 28th March) is insisting on getting their $750k back (can't help thinking it might be Fred - the numbers add up - lol).
But keep praying, there may yet be a miracle emanating from the Church of Fred. He's probably got another couple of weeks to sort it out.
- Forums
- ASX - By Stock
- AKP
- Ann: Continued Suspension from Quotation
Ann: Continued Suspension from Quotation, page-8
-
-
- There are more pages in this discussion • 442 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add AKP (ASX) to my watchlist
|
|||||
Last
$6.20 |
Change
0.000(0.00%) |
Mkt cap ! $181.1M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Featured News
AKP (ASX) Chart |
Day chart unavailable