Spot on, with no demand why mention spending more on capacity. $39k of Protein sales doesn't warrant a heap more capital expenditure, opex and deprecation. All funds should be spent on highly aggressive cost cutting and a decent sales team.
The WA Gov loan was linked to Oat Milk facility and only distributed in small stages as that Oat Milk facility was built, as was the $11m in financing from NAB, they shouldn't have put that on the last quarterly given it would no longer be able to be used. So they only had that $610k at the end of March really. They were likely trading insolvent during April which leads to this wipe out raise.
Ann: Trading Halt, page-8
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Last
1.8¢ |
Change
0.000(0.00%) |
Mkt cap ! $4.023M | |||
| Open | High | Low | Value | Volume |
| 1.8¢ | 1.8¢ | 1.8¢ | $3.623K | 201.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 845570 | 1.7¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.8¢ | 1426637 | 2 |
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| Last trade - 10.09am 05/07/2024 (20 minute delay) ? |
| WOA (ASX) Chart |