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Ann: Appointment of Voluntary Administrators, page-11

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bcc_100

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27/03/24

13:35

Post #: 73083326
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Originally posted by cfrgg: ↑

Well! Knock me down with a feather!!
Not a hint of any financial strain in the Half Year update presentation of just 21 days ago, March 5th. This is page 20 of the presentation

In fact it all seemed pretty positive. So, what's "blown up"? What's been hidden behind some distant pile of mouldering tyres ... in the dark? Is a key person suddenly terribly ill? There's been Queensland govt endorsement; we certainly need the technology to get rid of these necessary but environmentally dreadful tyres; we've had the recent Trafigura deal announced. Appointing administrators just doesn't seem to stack up.

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Not a hint of financial strain? Maybe if you step away from the fluff of the presentation and read the the financials...

Their biggest source of revenue was government grants. They only accrued $2.3m of grants in the 1H. Without grants running at similar to how they have in previous periods the writing was on the wall.

Last edited by bcc_100: 27/03/24

ETR Price at posting: 0.7¢ Sentiment: None Disclosure: Not Held
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