Hi Sophie, Hope you are well. Just wanted to check in as it has been 2 months since the last Company update, 5 months since suspension and longer since an actual business update. I appreciate your note from earlier in the month, and was hoping for some more information. The last 4C stated there was $70m cash in the bank which has been growing since listing very well, but the Company has provided no explanation of how they plan to use the funds. Given TB8 has a market cap of $23m with $70m cash in bank it is the Directors responsibility to do something with this cash - either use it for growth, conduct a share buy back or present a dividend. I understand the Audit is nearly done, and hopefully this will alleviate some of my questions, but time is ticking away and if the Company wants any chance of regaining the trust of the market it needs to start communicating a lot more regularly. Hoping to hear an update soon but also understand the position you are in. Cheers,
And here is the response:
Hi Ben,
Thank you for getting back in contact. I’m afraid I cannot provide you with any additional information, however I am continuing to push the board to provide an update on the matters that you’ve raised – cash in bank, dividends, status of audit, etc.
Kind regards, Sophie
TB8 Price at posting:
13.0¢ Sentiment: None Disclosure: Held
