@Fathomhttps://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02292266-2A1255646?access_token=83ff96335c2d45a094df02a206a39ff47.2 In the scheme references a prospectus being submitted to BCSC.
So let me get this right...
The running theory now that most people subscribe to, is that LOGO was acquired as a part of a scheme to trigger the final performance rights.
In the process increasing the negative net cash flow from approx. $5.7m in Dec 2019 Q (where cash on hand was still $57.7m) to elevated levels since then resulting in current cash of 16.7m (as at last Q).
The next stage of this master plan is they decide to move to the NEO, which you all claim will offer limited liquidity/shares will be worthless. Thereby preventing management selling their shares and create actual monetary gain from the rights issuance.
Meanwhile, had they not acquired Logo and made no further strides towards profitability, and continued to have the cash outflow of $5.7m they would have had a whopping 11 quarters of funding remaining as at 31 Dec 2019. Thats 2.75 years on that plush management salary.
I think what I am getting at is this... Does anyone really believe that PK is in Bora Bora running a touch typing school?
All in my opinion, DYOR
MJ
