Ann: Q2 FY24 Quarterly Activity Report and Appendix 4C, page-338

Dumb money dead cat bounce.
look at the notes to the quarterly figures
They expect that Q3 will reduce cash balance due to annual invoicing (code for they haven’t paid anyone for months.)
They will also need cash to fund growth. (Code for CR imminent)
Lots of newbies posting here. Do some real research into what has happened in the last three years. Just because a stock is in the top ten risers does not mean it’s a good investment.
Here is a pointer. If the half year AUDITED results miss expectations the share price will gap down 30%. Value trap.
Sorry to bring you all back to reality but it is not a new management team, it is the same old team before armughan ahmad took over.
These are the guys who drove the share price down 90% by pursuing overpriced acquisitions. Who was the deal maker, the new CEO, none other than Ryan Kolln.
I also note that the new CFO ( this title has yet to be confirmed by an announcement to the ASX) was previously the financial controller before AA tenure. Doubtless because they cannot find anyone else mad enough to take the poisoned chalice role.
it is easy to produce a great cash balance if you don’t pay your suppliers
I suggest you all examine the half year accounts carefully and use the most basic analysis ratios like the acid test and short term debt cover.
The price is being pumped prior to a CR.
This is not an AI company, it is a labour hire company, and does not deserve AI earnings multiples
Yes I am a disgruntled shareholder. I have lost a lot of money by believing the AI hype. I still hold a few shares to remind me of my folly.
Be very careful.