Actually, it's not like borrowing money from a bank. You may have missed the 'Going Concern' note in the accounts:
The group has current liabilities of $1,494,197 and has cash on hand of $1,815,388. So, Approx $400k cash on hand once liabilities are paid.
And:
The ability of the group to continue as a going concern is dependent on securing additional funding. So, Pretty clearly states, they need more cash.
So:
SH's have been told a capital raise is required in order for the business to continue as a going concern.
Simples!
Actually, it's not like borrowing money from a bank. You...
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Last
24.5¢ |
Change
0.020(8.89%) |
Mkt cap ! $48.00M | |||
| Open | High | Low | Value | Volume |
| 22.5¢ | 24.5¢ | 22.5¢ | $21.16K | 87.48K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 12765 | 23.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 24.5¢ | 87140 | 3 |
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| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
| MTC (ASX) Chart |