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A capital raise to who exactly? You're kidding yourself. They...

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142

01/03/24

12:22

Post #: 72693063
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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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A capital raise to who exactly? You're kidding yourself. They cant even get the coin out of EM who apparently know more about the product than anyone other than the AKP board. Their creditability is shot.

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