Earth Mountain -Patents that will make AKP great again, page-117

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brick6

589 Posts.

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01/09/24

18:00

Post #: 75477057
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Originally posted by Shortblack: ↑

Point 1: The little office in Sydney that AKP is run out of spends $1.2 - $1.5 mil a year on admin/compliance. Fred & Shawn are incompetent & the company is badly managed ? I agree.

Point 2: Despite the pumping and promises last year of a completed product being ready to sell by the end of the year, they were unable to find sufficient finance or capital before the end of 2023 to prove that the company could continue as a going concern for the next 12 months. They were suspended immediately.
In the Dec 2023 report they stated they would continue their search for funding via convertible notes, placement of shares or additional loan facilities. They are & have been unable/unwilling to offer shares to existing holders for a number of reasons - compliance & disclosure for starters.
They been completely unsucessful, largely because they are in suspension. They can't issue shares to anyone & no one is going to take up convertible notes because their access to the market is closed.
To say that this was Fred's master plan, i.e. to be left holding the bag as the only source of ongoing funding is simply nonsense.

Question now is are the existing noteholders going to extend more time to Fred (for a second or third time) or will some of them want to cash in their chips at the end of this month when they fall due.
If some of them decide to cash out, Fred is going to have to come up with potentially a few million$ at the end of the month on top of the ongoing $400 - 500k per month in working capital needed if he wants to keep AKP alive. And you're saying he intentionlly put himself in this position ?

If the noteholders want their money back, it may be a better plan to wind up AKP and Fred and the other unsecured creditors can fight it out over possession of the private entity AP.
AP & it's IP would be easier to sell off than AKP at the end of the day.

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This post shows your complete mis understanding of the current situation.

AKP Price at posting: $6.20 Sentiment: Hold Disclosure: Held
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Earth Mountain -Patents that will make AKP great again, page-117

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Earth Mountain -Patents that will make AKP great again, page-117

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