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Thanks for sharing @Protagonist, there is no hope really sounds...

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possum_30

2,382 Posts.

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27/08/24

05:47

Post #: 75384612
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Originally posted by Protagonist ↑

Spoke to the company last week.

They mumbled something about terrible capital markets for micro-caps as the reason they haven't secured the f$1m inance as yet. Clearly they have now missed the boat on purchasing product in time for the mid-autumn festival.

They did suggest that shareholders shouild be heartened by the fact they have dipped into their own pockets to keep the company afloat (via loans from the directors). That is hard to take seriously though considering the company's only expense at this point is director salaries. So they are basically lending the company money to hand back to themselves, and endebting the company to themselves in the process (so if/when the company goes insolvent they will be secured creditors who have first dibs on whatever is left)

Apparently, they are not pursuing the Lantene vendor for the $1m they owe because they have no money to fund the legal case.

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Thanks for sharing @Protagonist, there is no hope really sounds like the writing is on the wall. Very depressing all the same.

BP8 Price at posting: 0.3¢ Sentiment: None Disclosure: Held
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Last 0.3¢		Change 0.000(0.00%)		Mkt cap ! $1.189M

Open	High	Low	Value	Volume
0.0¢	0.0¢	0.0¢	$0	0

Buyers (Bids)

No.	Vol.	Price($)
23	13702972	0.2¢

Sellers (Offers)

Price($)	Vol.	No.
0.3¢	937132	8

View Market Depth

No.	Vol.	Price($)
23	13702972	0.002
11	63300000	0.001
0	0	0.000
0	0	0.000
0	0	0.000

Price($)	Vol.	No.
0.003	937132	8
0.004	5989024	5
0.005	8939890	3
0.006	2892621	3
0.007	723320	4

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