Some food for thought: Unfortunately, the longer it takes to end...

Some food for thought:

Unfortunately, the longer it takes to end suspension the closer companies slide towards voluntary administration as directors are reluctant to take the fiduciary risk of continued trading.

WP and John Seaberg have been AHZ directors since 10 October 2014. It appears foolish now to have trusted these characters given they were complicit in the company's malaise well before WP assumed the helm on 9 February 2016 as Exec Chairman, then MD on 15 March 2017 with his mate JS promoted to the chair. Neither has significant skin in the game and damage to reputational risk running an ASX penny dreadful is unlikely to hurt their marketability offshore. They are a pair of gringo carpetbaggers.

As to ADAPT being acquired by a bigger player: my question is what difference would buying the ADAPT platform now make to that company's bottom line? I opine licensing would be a preferred option as the downside is minimised to commercial risk and, if it gained significant commercial traction in ensuing years, it may then be acquired. ADAPT sales may scrape $12 million this year. It's the company's main game and will barely cover six month's operating costs.

AHZ capital raising strategy has used placements with follow-up share purchase plans. The recent trading halt announcement again referred to placement being organised. Apparently, the board and its executive failed to learn from experience in capital management. The company should respect its shareholders and run with a renounceable rights issue.

Recall, Ms Maja McGuire resigned abruptly as Company Secretary & Legal Counsel effective, 27 February 2018.
DecQ 2017 4C published 31 Jan 2018: "Refinancing Early in this quarter Admedus announced it had entered into an agreement with Partners for Growth (PFG) for a secured debt facility of up to $10 million.  The facility consists of a $5 million revolving line of credit and a term loan of $5 million, both with a 36-month term. This non-dilutive debt financing facility has funded key operational and strategic projects that increase efficiency, enable expansion and help to propel the Company to the next stage of its evolution. The $5 million term loan was drawn down during the quarter."
DecH 2017 published 28 Feb 2018: "In October 2017, the Company entered into a financing facility with Partners For Growth (PFG) and fully drew down the $5 million term loan during the period.  The Company received a waiver from PFG on a 31 December 2017 financial covenant and restructured the financial covenants under the loan agreement to better align with its 2018 budget targets."
FY17 Annual report pp23 published 20 April 2018:"The PFG facility contained a number of quarterly financial covenants.  For the December 2017 quarter, the Group breached the EBITDA covenant in relation to the PFG loan. At 31 December 2017, as a result of the breach, the loan became payable on demand and consequently is disclosed as a Current Financial Liability.  On 28th February 2018, PFG waived the loan breach and renegotiated the loan covenants for the 2018 calendar year.  If this waiver had been in place at 31 December 2017, $3.5M of the loan, classified as a Current Financial Liability, would have been disclosed as Non-Current Liabilities, increasing the value of working capital by $3.5M to $10.3M, with a corresponding decrease in Current Financial Liabilities."  
MarQ 4 2018 published 30 April 2018: "The Company’s debt financier granted financial covenant waivers for breach of minor covenants and as at the date of this report the Company has not drawn down on the remaining $5m of its $10m debt financing facility."