Ann: Trading Halt, page-18

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choochx01

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12/11/20

23:26

Post #: 48840995
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Originally posted by J L ↑

Hi benboy77 et al. I generally agree with what you say but I would like to tell you how I see the situation and how I have handled it.

On 31 July 2020. (see Items 8.4, 8.5, 8.6, and 8.7 of Appendix 5B)
Cash and cash equivalents - $1,483,727.00
Unused finance facilities - $500,000.00
Total - $1,983,727.00
Quarters of funds - 2.55

It was clear that if the estimated expenditure was realised, we would not be able to satisfy the the two quarters of funding rule, at the end of the current quarter unless we received further funding.

In my opinion we moved into this critical zone in mid October when we would expect some announcement regarding funding. This didn't happen, so I deduced that no external funding would be forthcoming.

Then, as a small share holder, (222373 at a cost of $76.5K) I elected, rightly or wrongly, to sell the lot at $0.20/sh. - a loss of $32K.

My belief is that it will be a standard CR, asking shareholders to stump up again to keep the company alive. I don't think shareholders would be happy to provide enough funding to do anything worthwhile. I don't know about you, but I have CR fatigue.

If it a typical CR, I will hopefully, buy back in via the market at a lower price. If its a goer, I will buy back in without great loss.

benboy77, I might be wrong, but if it is a shareholder CR, I would expect it to be much lower than 18c. For current holders, who don't want the value of their holdings reduced, I hope I am wrong.

These are my thoughts, I hope you can see some quaint logic in my thinking. J L.

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Bang on JL imo aswell

HAV Price at posting: 21.0¢ Sentiment: Hold Disclosure: Held
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(20min delay)
Last 19.0¢		Change -0.025(11.6%)		Mkt cap ! $62.23M

Open	High	Low	Value	Volume
21.0¢	21.0¢	19.0¢	$51.12K	249.8K

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No.	Vol.	Price($)
1	50000	20.0¢

Sellers (Offers)

Price($)	Vol.	No.
21.0¢	16112	1

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No.	Vol.	Price($)
1	50000	0.200
2	56500	0.195
3	57234	0.190
1	20000	0.185
3	85510	0.180

Price($)	Vol.	No.
0.210	16112	1
0.215	16297	2
0.220	3353	2
0.230	30000	1
0.240	153300	2

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Ann: Trading Halt, page-18

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