liabilities exceed assets according to their last balance sheet . this subject has been discussed in earlier threads. and probably working out how to overcome this@Tsand
Makes me wonder why this has taken so long.. LIT have engaged ARENA over the last 4-5 years, and they have had the Patent since picking up VSPC (after they folded). Probably the $30mil needed to fund was beyond their reach even tho $15mil grant was forthcoming from ARENA (when funds were expended or would it be on completion of the project.)
They need a partner and offtake to get this of the ground. They don't have the skills, staff, or where with all .
My thoughts is that CEO Linge is under pressure from Lind and Partners (LIT's current financiers) to get the share price moving so we have another tale developing
LIT Price at posting:
1.4¢ Sentiment: Sell Disclosure: Not Held
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