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yeah Fred will just lend more money at the newly inflated 12%...

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Grapire

854 Posts.

191

01/03/24

11:29

Post #: 72691240
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Originally posted by TrojanOne: ↑

EM have done no favours here, given AKP are unable to provide a timeline for receipt of outstanding placement funds.
The Auditors no doubt will have to qualify the accounts on a going concern basis, given the lack of evidence of any likely timeline.The business is unable to trade insolvent. Accordingly and in my view only, it is likely that Fred will need to raise capital to satisfy the auditors concerns and solvency issues.In fact the preliminary report highlights this…
“In the absence of further debt or equity funding, theconsolidated entity is expected to consume its existing cash reserves throughoperating activities during April 2024.”

A capital raising is not unexpected but may happen sooner than expected.Fred has never had a problem raising capital.This is not a knockout blow that many are happily preaching.

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yeah Fred will just lend more money at the newly inflated 12% and kick the can down the road

I doubt a capital raise would get much traction as their credibility is next to non existent and they’ve dipped into that well too many times already

AKP Price at posting: $6.20 Sentiment: None Disclosure: Not Held
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0 Great analysis

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