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With a gross profit of $42,000 how will you ever pay off the...

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knowwhat

1,674 Posts.

248

01/02/24

17:49

Post #: 72190534
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Originally posted by KymChy: ↑

Well well well , after 2 years of telling shareholders they are going well,growing this and that they declare that they are going to stop selling products and services that lose them money. Praise the lord ! 2 of the 3 directors are finance credentialed yet it took 2 years to work that out, go figure. TBH any shareholder who reads that has to wonder whats going on. What's the go with the auditor, no update just the same story parroted. Its now into 4 months since suspension and still they cant satisfy their requirements. No mention of the outstanding issues with Frankly as it would have some impact on cash positions?

Its a nothing burger for shareholder to read about their holdings being worth virtually nothing.

Nagging questions are that things in the business havent really changed since the IPO so clearly someone needs to explain how they ever floated and where did th cash go ? Like how with an injection of millions of dollars of cash all they now have is millions of $ of debt and nothing to show for it from a shareholder perspective . When do the authorities have a look at whats gone on?

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With a gross profit of $42,000 how will you ever pay off the debt? How will the auditors pass the half year accounts?

MRI Price at posting: 0.9¢ Sentiment: None Disclosure: Not Held
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