They are giving cash back as soon as they get a determination from the ATO.
The Company has stated:
Distribution of Firefinch Cash to Shareholders
- Firefinch will arrange for payment of most of the Tranche 1 LLL distribution and historic cash balance as soon as practical following the ATO's determination of the Second Ruling Request.
- Firefinch and its advisors remain in regular and direct contact with the ATO.
The only unknown being, how much of the cash reserve they need to retain to pay the bills?
With the historical cash amounting to $19,100,000 is suggesting that they a spending what they are earning in interest every quarter plus some.
- my calculations after the $11.5m contribution paid to LLL as part of the Tripartite Deal, FFX were holding circa $20,000,000, the current figures has this decreased to $19.1m - a spend of $900,000 plus the interest paid on accounts.
- I had calculated circa $400k a quarter of interest payments but cannot for the life of me find these in my spreadsheets!!!! Taking into consideration that there was less cash being held in accounts for the 3 months (1 November 2024 - end of January 2025)
They are giving cash back as soon as they get a determination...
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