Yes, I am making the “assumption” that litigation from the largest shareholder is not positive, particularly with virtually no cash and certainly no liquidity.
You can pretend this is all going to work out or you can face reality. If Goody wins this case then all the cash evaporates and ZErO is raising money or they are in liquidation. If he doesn’t win then you’ve got no idea how he reacts but my “assumption” is he’s not supportive and holding more than 90m shares is a significant risk.
The company has a desktop project run by a QLD university and it has a market cap of $68 million, that is ridiculous. Only $1,000 was spent last quarter on the geology. Not $1m, they spent $1,000 and sucked out more than $500k in salaries.
Maybe you’re new to the market but I’ve seen this type of lifestyle company so many times. It rarely ends well and given there are 1000’s of ASX companies you can invest in perhaps it’s worth asking the question, is this really the best opportunity you can find? I highly doubt it.
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