general discussion, page-2086

To be honest I don't know. I'm not an expert in tax law.
Logic would say that they should be able to use it as operating cash however $300k isn't going to go very far when they have interest payments on the remainder of the loan( which would now be about $14M so at 14%pa, monthly interest of $160K/month) which would barely cover 2 months interest payments, then there is wages, office operating expenses(rent, power, coms etc). I think they will be running on a shoestring budget until they get the money from the capital raise.

My worry is that even after the capital raise, they will be debt free apart from the loan(which they expect to cover with a ~$16M tax rebate from 2023/24) however they will only have about $1.6 M of working capital. They still have to cover the interest payments until they actually get that rebate from the ATO.

The silence is really damaging the share price, we just hit 12 month low. I think anything in the 3's is a good buy if anyone has a resonable risk apetite.