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workingdog

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14/05/23

15:49

Post #: 67764924
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Originally posted by Aussie Eagle: ↑

"Nothing much to say until June 30ish by the looks of things, it sounds like due diligence is complete."Bit of waffling there mate ?
Why not give it a shot at substantiating your reasoning around DD being complete.

What about Continuous Disclosure to the Market on what the current state of finances are and an Operational Update ?

Their unwillingness to provide either of these is very concerning, don't you think ?

All we know about cash on hand dates back to the quarterly for end-Dec - $8,373,000

In that Dec report, it shows ZERO INTEREST for both that 3mth period
AND ZERO INTEREST for the cumulative SIX MONTH PERIOD up to end Dec -- Item 1.4

Then have a look at Item 1.5 - 'Interest and other costs of finance paid'
-$21,000 for the quarter versus -$24,000 for the 6mths.

This is a major escalation from -$3k to -$21k (qtr on qtr) with no explanation on this cost.

So, going from a positive circa +$190,000 Interest Paid for the previous FY
to a Negative -$24,000 for the next 6 months...doesn't that ring any bells ??

Dyor and feel free to share your own DD on why it's gone from interest being paid on +$8m to a charge AGAINST what cash was previously there (the +$8) for FY 2021-2022.

Of course item 1.4 (Interest Paid) is different to item 1.5 (Interest and other costs of finance paid) but as I said, there's nothing further (that I can find) on what this cost is about.

If one has a look at the FY21/22 report, it shows a loan (p57) to Sholom Feldman of $5,402

Isn't that a very strange action ?
A loan to him of $5,402 when his salary had been $312,000 ???

Would that loan amount be a precedent to a higher, more recent amount ?

Expand

Jeez your passionate AE

To me anyway given that they went from one to multiple to series to one acquisition suggests DD is complete, it might not be and there is another extension. Your guess is as good as mine.

To be honest I dont care anymore AE and wish you luck in the future if you decide to hold. I wont comment again on CGB if I dont hold and you guys can enjoy the floor.

Cheers

CGB Price at posting: 2.1¢ Sentiment: None Disclosure: Held
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Ann: Request for extension of voluntary suspension, page-15

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