The $590m in restatement and write-off is painful and totally unexpected. Whilst it is one-off it just wiped out shareholder value with net assets of $60m. This is just unbelievable and total mismanagement. It is just sad that the Board has no oversight and use the excuse of fast expansion into many products as an excuse.
the positives being they are slightly cash flow positive, new management and board with lessons learnt. The negative is the huge potential dilution. I'm concern that they selected only one new investor; Oak tree?.
it will take a hammering when this reopens and will take a few years to recover. I only hope that they deliver positive EBITa moving forward.
Ann: Investor Presentation - FY20, page-8
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Last
20.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $55.42M | |||
| Open | High | Low | Value | Volume |
| 20.0¢ | 21.0¢ | 20.0¢ | $27.21K | 135.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 33522 | 20.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 21.5¢ | 127 | 1 |
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| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| NOU (ASX) Chart |