From the last quarterly.
Cash at end of quarter - $780k
Estimated outflows for next quarter - $705k
So, by November 1 they should only have about $75k in the bank, effectively broke.
Does anyone know which broker they are using for the capital raising?
They must have been in discussions for some time by now.
There are probably a few sophisticated investors around who have already been notified.
I expect they will try and get a placement away at 15 cents, anything less may indicate a warning signal.
The other potential issue for this stock, though a little further down the road, may be the shares on escrow.
We should be notified of the capital raising within the next fortnight.
Gw
Capital Raising
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Last
22.0¢ |
Change
-0.010(4.35%) |
Mkt cap ! $43.25M | |||
| Open | High | Low | Value | Volume |
| 23.0¢ | 23.0¢ | 22.0¢ | $30.33K | 137.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 76511 | 21.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 22.0¢ | 9830 | 1 |
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| Last trade - 15.58pm 26/07/2024 (20 minute delay) ? |
| MTC (ASX) Chart |