This presser is hilarious"the FY21 audit report and Emphasis of...

This presser is hilarious

• "the FY21 audit report and Emphasis of Matter is no differentfrom OLI's FY20 audit report" - The auditor held grave concerns that Oliver's were not a going concern in the FY20 report. An ASX suspension at the time was only avoided due to sufficient cash reserves
• "yet wecontinue to operate, despite not having $1.5m in working capital" - After a $3M equity raise, $1.5M line of credit, and last-ditch refinancing requiring major shareholders to shoulder the debt because no retain lender would
• "The Board is now considering all options due to this latest communication from the ASX" - Nine times out of ten, 'all options' in a presser means 'considering legal action' - Good luck getting anywhere with only $500k to throw at lawyers (that would be the minimum Oliver's would need to put into an escrow account just to file the paperwork)

News Flash! - Oliver's sales can't even cover the costs of manufacturing and distribution, let alone wages, leases, and loan repayments. There is NO way the ASX is going to re-instate trading when Oliver's have not have a single positive MONTH since suspension. Does the board think we, and the ASX, are stupid enough not to see that the only reason Oliver's have ANY cash in the bank is due to continual injections of funds? And when it comes to those injections, they have run out of options. They are desperate to lift the suspension so they can initiate yet another injection by diluting the stock AGAIN.

EDIT: My guess from the strong wording is that they may actually cover manufacturing and distribution costs in November - I'm betting on it still be a negative month overall though