So, TKF have settled the initial statutory demands (presumably out of the Regency funding) for $396k but have a further $240k demands relating to, I assume, the same issues? This would bring the total for statutory demands to $636k, more than half of the initial funding from Regency.
With the legal costs of this process and the whole East Star Capital deal looking like a big fat zero, you have to wonder how long they can continue to sit and fidde while Rome burns.
During this entire period of little or no trading it seems that business development has gone by the wayside so no new deals in te pipeline?
After the Market Update announcement that reveals that they have only three current paying contracts and no mention whatsoever of the Jobseeker Platform cotract as either "ongoing" or "current", their burn rate seems still nearly thee times their running costs. This will quickly eat up the remaining $800k through Regency.
KB and DA are going to have to pull a rabbit out of the hat to turn this around.
I wonder if the motion to remove the MD and Chairman by the 19% block of shareholders still stands in the light of the statutory demands payouts?
Any bets on a trade halt again as the price drops further?
