The Company has reduced its cash outflow from Corporate and Administration as disclosed in 1.2(d) and 1.2(e) by reducing contractor costs, halving the corporate office lease size, reducing staffing levels and Director fees/salaries. Management is also currently working on bringing further companies into the existing shared office arrangement so that the office costs and Graphex staff costs can be spread over a larger number of companies and further reduce overall costs
Graphex intends to raise further capital in the future and is highly confident it will be successful in doing so. It has held discussions with project financiers, brokers and investors in this regard.
MVL Price at posting:
3.9¢ Sentiment: Buy Disclosure: Held
