Oh dear...
Some absolute gems in NOR's response. Lets look at the numbers.
According to NOR at the end of 2024 they had $218K in the bank. As of yesterday - 27/02, they had $162K in the bank, $56K less. This despite receiving $505K in December from the convertible notes and $310K in January from Radium for R&D.
This company is haemorrhaging cash, they know it, the market knows it, ASX now officially knows it and won't be letting go of it.
The other gem is what or more specifically who, NOR doesn't mention - Spark NZ. You would think that in response to a question concerning your ongoing ability to pay their bills they would make an effort to point out their single source of reliable recurring revenue, unless...
The good news is that this response well and truly locks Tarrant in to keeping the company solvent. None of them can say they weren't put on notice.
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