Yep - unforeseen and very sudden sell-off. I have no idea why it has happened like everyone else.
I think here needs to be tighter rules on companies from the ASX.
Yes, they ask the question re: 2 quarters of cash - but that question only needs to be answered once a year with the EOFY accounts. Companies are only pinned down once a year to explain their financial position.
Given the foreseeable prospects for BIT, they are essentially insolvent. At the current SP, they could not even raise enough cash for another two quarters - and I think companies are limited to just 10% of their shares for a CR - I could be mistaken with that though.
BIT Price at posting:
1.1¢ Sentiment: Sell Disclosure: Not Held
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