Complete rubbishGo look at all the mining spec stocks and tell...

First 31 Last

Share
Profile

Follow
AllTooHard

1,354 Posts.

12

15/08/23

06:23

Post #: 69336419
Share

Originally posted by Shortblack: ↑

Everyone needs to go back and read the announcement.

will be suspended from quotation immediately under Listing Rule 17.3.1 until such time ASX is satisfied with PET’s compliance with Listing Rule 12.2.

So be be relisted, it must meet satifsactory financials conditions (the Profit &/or Assets tests).

Whatever the unannounced announcement is, it has not convinced the ASX that the company does not have liquidity issues.
There has been no solid evidence presented that would suggest otherwise.
And "if" the ASX has the announcement, for them not to release it, to me it indicates that it was fluff & not worthy of publication until after the securities were suspended. It would seem the ASX has had a gutful of the hope raising announcements from this company.

People keep talking about the $10mil in the bank (less now), but forget about the $3.5 in liabilities in the last balance sheet. Then take away the cash burn. Even if it remains at the same level for the next 6 months as the previous 6 months, this will leave only $2 - $3mil in net assets.

They fail the Profits Test and they fail the Assets test whichever way you look at it unless they can prove a greatly increased guaranteed cash inflow in the next 6 months.

Expand

Complete rubbish

Go look at all the mining spec stocks and tell me how they are all still trading, you have absolutely no clue.

Mr Not Held, why do you care so much

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

0 Great analysis

Reply