So this is very disappointing news but it only delays the receipts-its not that the deal has fallen over and receipts wont be coming. But the cash burn is making it touch and go as to whether another capital raise will be necessary.
FLC will be oh so very close to profitable this quarter......... and I realise it is a precursor for a lot of investors before they invest in a company, but we are nearly there. I have sat through the pain to here and I am just going to have to suck it up and wait.
I suspect the news re receipts will be in July, at least that is how I read the release. But as many have pointed out the management of FLC continue to promise and are a bit so to deliver. But the IC receipt delays are not a direct result of management, but more the Covid issues.
In spite of the news or because of it, there seem to be a lot more buyers coming out of the woodwork at these levels than is usually the case.
imho
FLC Price at posting:
25.0¢ Sentiment: Buy Disclosure: Held
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