Lets not jump the gun.
AU1 has until 24th to negotitate a new lending arrangement OR reset their existing finance arrangement.
The Real Estate industry is in a world of pain and sadly this did not get to a critical size where the business could weather the Covid storm.
I really had hoped the business would get there far sooner and had intentions of buying in once risk levels became acceptable but now unforately with a $12m market cap for a business that is still so far from break even after a number of capital raising....I hold no hope for it now.
The business will need to recapialise and consolidate shares and exising equity holders will need to take a massive haircut thats IF they can find a new investor/s to commit fresh capital.
10x
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