I believe we are due a CR (Credit Raising) this year, my current estimate is around the middle of the year.
Here is my (very basic) calculation based on the 2022 September Quarterly and latest presentation:
$8.5 million cash held at 31/12/22
- $3.3 million for BBIG deal (port/rail etc)
- $1.4 million March Quarter 2023
- $1.4 million June Quarter 2023
= $2.4 million estimated cash held at 30/6/23
As we all know, well managed ASX companies never run their money right down to $0 and all companies top up well in advance to avoid any disastrous financial situations.
Wildcards include:
- A much bigger spend per quarter.
- Money coming in from unknown sources/agreements (Other Peoples Money).
Happy to be completely wrong but I think everyone (current holders) should start to get ready to fund the payment of new shares or the only ones to benefit will be Todd and OCJ, who will take up their entire entitlement and possibly any shortfall.
This will have the affect of increasing the % owned by both of our largest shareholders, while the minority shareholders % will shrink again.
Pure speculation: No further positive announcements will be made until AFTER the CR is well and truly complete...
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I believe we are due a CR (Credit Raising) this year, my current...
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