Not sure who bought some today to send the SP sky rocketing .... hahahaha
Reading through the quarterly a bit more and a couple of curious items:
Released the announcement late on the last day it was due.
Directors were only paid $22k for the quarter ($65k in Q1) - cashflows were a bit too tight I would suggest. Pistol Pete should be around $60k alone.
The LDA facility concludes in less than a month (1 March) - they only drew down on it once whilst drawing equity from elsewhere over that time, so you would suggest that there is an undisclosed issue with LDA. Maybe they saw the deep dark hole of trouble that this company is in and refused to contribute further. If they are able to draw again on this facility, then you may see a small pump in the SP over the next couple of weeks - all legit from the open market of course.
Continued usage of "Potential" when everyone knows that this mob has zero clue on commercializing anything.
$229k in the bank, with Admin costs running around $200k+ per quarter.
They will draw down from the Grants advance loan again in the March Quarter, but this will more or less match to actual spend in the same quarter.
What happened to Beach Toes?
What rabbit can be pulled out of a hat next quarter.
SKN Price at posting:
0.6¢ Sentiment: Sell Disclosure: Not Held
