Ann: Half Yearly Report and Accounts, page-6

  1. 953 Posts.
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    I've only just skimmed through but I think I saw the net loss for the year being almost that of the current market cap of the company : "The total comprehensive loss for the half year ended 31 December 2023 was $9,326,550"

    I think the management must subscribe to the /r/wallstreetbets philosophy of business.

    As a general rule of thumb if you lose more money in a single year that your entire company is worth and have no tangible assets - as is the case - then you no longer have a viable business. Perhaps this was the business plan all along... simply a continued transfer of money from shareholders to the directors.

    Not even the auditors want to be associated with this train wreck of a company, as evidenced by the "INDEPENDENT AUDITOR’S REVIEW REPORT" included in the Half Yearly Report and Accounts announcement.

    When or if they do relist, I'm not selling - I plan to hold this forever just for the giggles.
 
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