Another nothing report!! While they have not previously expressly said the "maturation" work was complete, they had previously indicated they had nothing more to do on it. Now it appears is just the go to phrase when they wish to defer any further actions or not want to provide any positive news.
Also, the Estimated Cash Outflows for next quarter (to me) are incorrect. They have not announced any term extension to the loan facility which requires repayment on or before 30/6/18, so the $5m loan repayment should have been included in estimated cash outflows and a note added explaining how this shortfall would be covered. Obviously they had previously announced there would undertake a pro rata rights issue to repay this loan, so why is it not mentioned at all in this report??
As nothing mentioned in this report I expect an ann re the rights issue in next few days.....??
FMS Price at posting:
8.2¢ Sentiment: None Disclosure: Held
