I think these guys are in trouble. 1st extension The purpose of the extension of the Closing Date is to allow some larger CBL shareholders additional time to arrange funding in order to participate in the Offer. 2nd extension give no reason but it's obvious that it's extended because of limited uptake.
My calcs, This from the report issued 27 April 2023 Sales for the quarter $1.24m Cash receipts $1.15m Cash at end of quarter $1.3m Cash burn for the quarter $2.82m
Looking towards June 30 In the cash flow report at point 4.6 cash and cash equivalents at end March $1.312 plus receipts app. $1.25 less cash burn app. $2.8m = cash at end of year app. -$0.24m.
I sold out my holdings today.
CBL Price at posting:
8.3¢ Sentiment: Sell Disclosure: Not Held
