my opinion is that the state the company was in left it with only bad choices as to the debt that was available to it. so it is possibly that they were in on "expensive debt", and there's been $7m raised from just sophisticated investors since December so if that theory is correct it'd be a good way to use the funds.
the most recent 2A regarding the $3m raised actually stated that the purpose was "fund growth and partially retire debt" or something to that effect, it was a little ambiguous as to whether debt would be partially retired or the funds were only partially required to retire debt.
and maybe with a better looking balance sheet and a CFO having been appointed to really delve into the opportunities there, cheaper sources of debt may become available when it is required.
but yeah I'll definitely be honing in on the amount of debt and/or any specific notes / updates around the topic.
my opinion is that the state the company was in left it with...
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Last
15.0¢ |
Change
-0.005(3.23%) |
Mkt cap ! $45.91M | |||
| Open | High | Low | Value | Volume |
| 15.5¢ | 15.5¢ | 15.0¢ | $43.78K | 282.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 20830 | 15.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 15.5¢ | 7262 | 2 |
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| Last trade - 12.12pm 09/09/2024 (20 minute delay) ? |
| OJC (ASX) Chart |