NRZ certainly seems to be facing a short term liquidity problem.
The recent Appendix 5B shows that they spent about $7.5m last quarter (i.e. $80k a day), including $3.3m ($36k a day) on wages and corporate overheads (Items 1.2(d) and (e)). The 5B shows $618k cash in bank on 31 December 2022. They may not have spent $80k a day over Christmas as contractors may have been sent home but would have had to pay wages, rent etc. of 32 (number of days since 31/12/22) x $36k = $1.165 million which is about $0.5m more than their cash balance. This suggests that they may be insolvent or close to it. I don't know if they can wait for the $5 million or the R&D refund.
I am a believer of the project and the team but I am concerned for their short term funding.
Ann: Quarterly Activities Report and Appendix 5B, page-38
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Last
0.9¢ |
Change
0.002(28.6%) |
Mkt cap ! $17.12M | |||
| Open | High | Low | Value | Volume |
| 0.8¢ | 0.9¢ | 0.8¢ | $35.17K | 4.297M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 3240000 | 0.8¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.9¢ | 1470188 | 3 |
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| Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
| NRZ (ASX) Chart |