Dude you hitting the stuff obviously, there are hundreds of...

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AllTooHard

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14/08/23

13:07

Post #: 69325266
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Originally posted by Shortblack: ↑

The ‘Profit Test’
The ASX Listing Rules provide that to satisfy the “profit
test”, a company must satisfy criteria in respect of each of
the following:
 being a going concern
 its business activity
 its audited financial statements
 its last three years’ aggregated profits
 its last year’s profits
 providing a directors’ statement.

Three years profit
The company’s aggregated gross profit from continuing
operations for the last three full financial years must have
been at least $1 million.
Last year’s profit
The company’s consolidated gross profit from continuing
operations for the last 12 months (to a date no more than
two months before the company applies for admission)
must be more than $500,000.

The ‘Assets Test’
The ASX Listing Rules provide that to satisfy the “assets
test”, a company must satisfy criteria in respect of each of
the following:
 net tangible assets/market capitalisation
 liquid assets
 working capital
 financial statements and audit report.

Further information on each of these criteria follows.
Net tangible assets/market capitalisation
The company must have either:
 net tangible assets at the time of admission of at least
$4 million, after deducting the costs of fund raising, or
 a market capitalisation post initial public offering (IPO)
of at least $15 million (normally based on the issue or
sale price under the prospectus).

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Dude you hitting the stuff obviously, there are hundreds of micro cap companies listed on the ASX that have been trading for many many years who hardly have any money in the bank, and generally just have a couple of projects sitting in there portfolio to comply with the asx rules.

PET just signed a new contract 5 weeks ago, they are doing more than hundreds of other cellar dweller listed companys on the ASX ( most of them dont even have any revenue )

How about instead of speculating on something you dont know anything about and just wait until they release the information, its not like you have a vested interest given yhat you do not even hold the stock.

Last edited by AllTooHard: 14/08/23

PET Price at posting: 2.5¢ Sentiment: None Disclosure: Held
13 Upvote

0 Great analysis

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