TEX target energy limited
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cash grab

  1. tonydawe
    202 Posts.
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    01/05/09
    19:59
    Post #: 5081629
    Hi Texans,

    Anyone who is not convinced that the Blaze offer for TEX is nothing more than a "cash grab", need look no further than Advance's March Q report.

    At the beginning of the Quarter, Advance had $2.4 million in cash.

    At the end of the Quarter, Advance has $916,000 in cash and a working capital deficiency in excess of $5million.

    Does this mean AVD is technically insolvent?


    TEX Price at posting: 4.1¢ Sentiment: None Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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