Originally posted by Dragonlord
They have about 80mil roughly, and that 6mil each quarter you speak of includes legal bills already. I think they will definitely stay alive this year, but beyond that will depend on whether they are actually onboarding big clients right now as they say they are.
You should review the last quarterly on 31 Dec 2018.
They had ONLY $23M.
And expected to spend $7M this quarter, not including the recent purchase of USD $4.5M.
At best, at the end of the March quarter, $11M left (assuming they earn $200k income).
That is only enough to last 2 more quarters (not accounting for any legal bills).
Given the lawsuits from ASIC, which investor or potential investor would want to stump up good money, after bad?
There is a serious chance (if you read the statement of claims) the company will face a significant fine.
After that, there is a significant chance aggrieved shareholders will prevail in their own lawsuit.