the way I read this announcement is their cash position has gone up by $4.7 million but their previous debt of $14.3 million has now gone up to $20.6 million (up 6.3 million). So net net they are worse off as they have taken on more debt.
So their cash position is effectively funded by more debt and their losses continue to pile up.
If you read their cash flow position there are massive outflows and they can only survive from borrowing or raising from issuance of shares which they did in 1st halt 2021.
Not sure how sustainable this is in the long term. Note: I'm a long term holder and I'm disgusted at how they're treating shareholders!
They've effectively doubled their customer acquistion and product development expenses but the revenue has only marginally increased. In addition, general and administation expenses has gone up $1.2m. If this was a fast growth company you can understand but the revenue gains have been tepid at best. The chairman and CEO have a lot to answer to.
QFE Price at posting:
13.0¢ Sentiment: Hold Disclosure: Held
