I agree there's a lot of uncertainty in this company at the moment. Based off their latest quarterly report they have less than 1mil remaining in the bank with overheads of approx 1.5mil a quarter (based off last 6months spending). The comment around "discussions with a number of parties to secure long term funding.." has me worried somewhat. I read it as those that have backed them financially in the past are starting to pull out and Al8 is scrambling to find a new source of finance. Coupled with their directors taking pay cuts I don't read any of this as good news. Additionally, due to poor weather they can't even drill out the most prospective targets so I'm failing to see where any good news will come from to entice any backers.
AL8 Price at posting:
10.5¢ Sentiment: None Disclosure: Not Held
