I think it would be nice if the company could also tell us what they need to borrow money for that's so urgent? The half yearly accounts said they had $568,000 at 31 December 2012. Are they suggesting they've spent this in under 3 months?? Almost $200,000 a month?
What are they going to spend money on that's so urgent that the delay to the rights issue means they have to go out looking for a loan??? What immediate capital requirements? And who is going to lend to the company....hmmmm.... let me guess.....
And how is it that they are going to negotiate this loan when its Easter holiday until Wednesday morning!!! From the announcement they are exploring more than one option...which bank or lender is open over easter...please someone explain!
ABL Price at posting:
1.0¢ Sentiment: Hold Disclosure: Held
