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Jagdarwin

859 Posts.

134

01/06/23

15:53

Post #: 68082700
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Originally posted by Kirpa: ↑

The shareholders voted AGAINST Rhys Evans getting his directors fees in shares at 3c per share. He would have loved that result as he would receive cash instead. That was a win for Rhys Evans and a further depletion of the cash at bank balance. The shareholders didn't really think that resolution through properly did they? Saved him from taking shares at 3c and gave him cash instead LOL.

The Chairman also mentioned in answer to a question that the company was engaged in legal proceedings to protect the TYM intellectual property. Legal fees are not cheap at all.

@M8trix think your estimate of cash at bank is optimistic. That $350,000 you guessed as at June 30 in a months time may be what is closer to the mark right now. I'd have a guess the cash will be empty before the end of this month or so close to empty that the new board will have to raise capital urgently.

@KirstenBalance in a previous post was saying Niv is not going to raise capital under 1c. That is akin to believing in the tooth fairy.

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Originally posted by M8trix: ↑

Cash balance at 31 March was $1.47m. Quarterly opex was $1.12m. So $350k left in the bank at end of this month which would run out in mid July. Did the new directors mention their capital raising plan at the AGM?

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Originally posted by ime003: ↑

Yes look at the quarterly. The directors have only left in the past couple of weeks. The cash burn will only slow slightly & add what a few more weeks at best?

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Look out they are moving in packs….

TYM Price at posting: 0.4¢ Sentiment: Buy Disclosure: Held
4 Upvote

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