Based on the cashflow receipts for past 6 months would take 6 years to get rid of the inventory, which would become obsolete progressively from 2 years from now (based on previous cashflows when it was manufactured). Expect a huge impairment in the half-yearly accounts.
Based on cash balance at the end of December 2023 and the cash burn, they should be at zero dollars right about now.
I don't see how the auditors would pass it as a going concern, unless they breach their duties.
I expect the company would be tipped into administration sooner rather than later and assets be turned over to Hyslop in satisfaction of his convertible note.
Sell while you can situation...
ZNO Price at posting:
5.0¢ Sentiment: Sell Disclosure: Not Held
