This company’s net tangible asset per share is -1.0 cent as at...

This company’s net tangible asset per share is -1.0 cent as at 30 06 2021. Now another 3 months gone, it has to raise another 0.5m, why not 1m but 0.5m? Feels like no confidence but the funder still believes it can dump the shares on the market, hence we noticed the recent bankers activity. A good opportunity for shareholders to quit imv.

Total equity of $5.3m is even less than its intangible asset of $5.4m. What intangible asset for? goodvill ? All shareholders money becomes goodwill of such a diago business?

Obviously its management now is nervous about going concern, more and more announcements actually talking about nothing, logistic, NZ brands, overall market conditions , what else will come? 90 days to go, let’s see how many cash remains by the end of the year.

Asset of 17m, liabilities 12m , equity 5m, as at 30 06 21
if keeps burning 2m for every 3month, equity should be around 1m by 30 12 2021.