DUB

2.56%

3.8¢ dubber corporation limited

I haven't read yesterday's orders, but I'd expect McGovern...

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jbezus

34 Posts.

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27/03/24

10:50

Post #: 73078717
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Originally posted by tradie130: ↑

Okay, so we must assume the court had enough evidence of wrongdoing for a ruling to grant the travel restriction and refer to the matter before a judge in August.

This should not prevent DUB from communicating updates to shareholders about where the $26M was supposed to be held, who it was trusted to, where it is now, and what chance of recovery.

More concerning, for now, is the lack of a half-yearly audited report. If the issue was only the missing $26M, wouldn’t they only need to restate the ‘cash on hand’ or ‘call deposits’ balance, to reflect the truth, and then move forward? I am guessing they may be trading insolvent and must complete the CR before they are unsuspended.

Even with the quick $1.5M AW bridging loan to keep lights on, and the recovered $3.4M, by quick calculation, $1.5M + $3.4M = call it $5M is cash on hand, then Customer Receipts for current QTR call that $9M, minus Expenses for QTR being $13M, equals $1M balance, as of about now.

Can someone explain to me how revenue for Q2 in FY24 was $10.7M. We have actual Customer Receipts for Q2 in FY24 being $8.8M. But then they normalised this for reporting to $9.7M by counting late payments expected in December but expected in January. Okay a little fiddling here, but how does it reach $10.7M?

Does anyone think they are still on track to achieve the full-year revenue guidance of $45M? The pre-audited half-yearly receipts were $18M, so I’m not confident that $45M is achievable.

If we ever get there the 4C report in Q3 FY24 will be compulsory reading.

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I haven't read yesterday's orders, but I'd expect McGovern consented to the travel ban to avoid having details about the case heard in open court at this stage, which might have prejudiced his ability to influence matters, selling holdings etc in the short term.

DUB Price at posting: 22.0¢ Sentiment: None Disclosure: Not Held
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(20min delay)
Last 3.8¢		Change -0.001(2.56%)		Mkt cap ! $34.18M

Open	High	Low	Value	Volume
3.8¢	3.9¢	3.7¢	$130.8K	3.496M

Buyers (Bids)

No.	Vol.	Price($)
3	580169	3.7¢

Sellers (Offers)

Price($)	Vol.	No.
3.8¢	2243	1

View Market Depth

No.	Vol.	Price($)
3	580169	0.037
7	1544514	0.036
10	1875306	0.035
2	45000	0.034
2	100000	0.033

Price($)	Vol.	No.
0.038	2243	1
0.039	100000	1
0.040	162109	4
0.041	109100	5
0.042	44409	3

Last trade - 16.10pm 21/06/2024 (20 minute delay)

DUB (ASX) Chart

I haven't read yesterday's orders, but I'd expect McGovern...

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