FFG 30.8% 1.7¢ fatfish group limited

nearing 6 years the public has been able to trade VGW shares:i...

  1. 1,919 Posts.
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    nearing 6 years the public has been able to trade VGW shares:

    https://hotcopper.com.au/data/attachments/6166/6166643-ed8cb25dc76408178b26d688062e833f.jpg
    https://hotcopper.com.au/data/attachments/6166/6166646-92143e9d6c66152b2b9a8bd8dea41b47.jpg

    i don't think FFG's in the same universe as VGW: based on my analysis of FFG's 4C, the company is close to insolvency with only $1.2M cash left because it's burning $0.5M+ from operations alone each quarter & total net assets are only $0.62M (exactly $621,792 net assets according to Appendix 4E as at 31/12/23):

    https://hotcopper.com.au/data/attachments/6166/6166735-010fca4dd3ae238f1d21b73673371695.jpg

    then i also consider FFG's debt of $6M maxes out the $6M financing facility that's in place, but $2.8M is subsequently owed for the dodgy AIGC acquisition in cash/services; how's that going to be paid, & i think $8M cash repayment due next quarter to convertible note holders, on 27 August 2024.

    i think FFG has been committing to spend money it doesn't have, or am i missing something?

    regarding Modo.us; it's impressive & the real deal, operating a Sweepstakes social casino model which is (currently still) legal in most US states, but not many other places; it's not legal in Australia for example. comparing Hibur & Modo, is like comparing chalk & cheese. i think Rhys is playing FFG, because what i've seen of Hibur it's a joke so far
 
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1.3¢ 1.9¢ 1.3¢ $1.018M 59.32M

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1.8¢ 2058420 7
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