Having a look at the numbers....
From latest 4C
31st March 2018
Bank Balance = $48k
Outgoings for next Qtr (Apr-Jun18) = ~ $450k
From the Ann 11th April
https://www.asx.com.au/asxpdf/20180411/pdf/43t48q3cn7s1fk.pdf
Regency $1.2m in cash + addition $0.8m draw down facility.
From the Ann 16th April
https://www.asx.com.au/asxpdf/20180417/pdf/43t893w1tr8xyc.pdf
Alignment statuary demands totalling $354k
My assumptions....
- TKF will have to pay the statuary demand $354k
- Legal costs would probably go to ~$30k
- Low revenue predicted for the qtr as management will be distracted with legal and then trying to source more funding.
- Estimate revenue of ~$100-$150k for the qtr
- Shareholders call for meeting to replace directors
- Directors would be wise not to use the extra draw down facility
- Cash at 30th June ~400k.
- TKF unable to source further funding
- ASX put TKF into another trading hold.
Having a look at the numbers.... From latest 4C 31st March 2018...
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