Lots of Holders understandably questioning what's next following...

Lots of Holders understandably questioning what's next following what's it, 4 months of suspension. I see the odd comment where some are questioning how long the lights will stay on following the $1.85m Capital Raise (before costs) announced early April. At the time of the suspension, there were suggestions the Directors were not willing to sign off the Half Year Financials. Then, some have questioned who would support a Capital Raise for a Company in Suspension.

Can I suggest that if you look at the historical Payables over 3 previous reporting periods

HY22 Payables $4.178 m
FY22 Payables $3.632 m
HY23...Could not find these on their Investor Portal
FY23 Payables $ 2.151m

then it is possible that the Financials for H1 FY24 (not released to the market) showed a situation where the Company would be exposed for trading insolvent. Yes, we can only guess what this number would have been, but Companies under financial pressure generally attempt to pay Creditors later. Simply look at the 4C for the March QTR. No apparent cash outflows to Creditors (other than Advertising & Marketing). IMO, Everything points to the CR proceeds going to address overdue Creditor Payments.

Can. i suggest if any holders are Perth based, may be worth buying a coffee and sitting outside their premises at 8am to see if people arrive at work or confirm that the office is still manned. Sick situation and feel for all the long term holders who stayed the course.

Good luck to All

Rokewa