A little strange here from ASX, one wonders who is pulling the strings.
Q1. - Answer is already in the statutory financial report. Good response from the company which refers the ASX to the exact declaration made only 14 days ago. The declaration is also subject to audit as stated in the auditor's report but no reference to it being inaccurate.
Q2. Answer is already in the statutory financial report. Well explained by the company. Much of the response is already included in Note 12 to the financial report and the accounting policy in Note 2 (h) and (i). Whilst the auditors qualified their report re the valuation of capitalised development costs, they did note that the directors performed impairment testing as required by Accounting Standards.
Q3. Pointless question as the Report was only issued 14 days ago and is covered by Question 4 in any case. Except that out pops this in the response "a capital management strategy is currently being executed to strengthen the financial position of the group before 31 December 2019" Interesting in light of the referral to a 'new investor deck' in a recent update from the Company'. Given that there has been little change in the top 20 wonder what is in store.
Q4. Kind of irrelevant given that any company would obviously take steps to try to obtain an unqualified opinion in its future financial reports.
Q5 & 6. These are probably the real questions that they should have asked the company and they have been answered by the company and the response is in line with recent and not so recent announcements. A strong response here "the directors note that there is sufficient working capital to support committed research and commercialisation activities over the next 12 months"
AJX Price at posting:
12.3¢ Sentiment: Buy Disclosure: Held
