Yes but they didn't have choice, convertibles notes were coming due with no cash in the bank, so it 's not the company'a fault but as you say the ASX.
IPO companies should have to have 2 years of working capital in the bank minimum on listing plus whatever they need to fund their plans.
NGL have just raised some extremely expensive debt that will only keep them afloat for a matter of weeks.
Still a big dilution coming before they can get the accounts signed off IMO.
NGL really need $5m USD to be adequately funded, very little chance of raising that much.
Yes but they didn't have choice, convertibles notes were coming...
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