H1FY18 results showed net cash outflows from operating activities of $478,966. Forget the accounting tricks they pulled to report a $273k loss, JAT needs at least $500k per 6 months to remain a going concern at current trading levels.
Cash at hand was $2.438m - so they were looking at 2.5yrs before being insolvent - but this was only the case because during the half year JAT issued shares to raise $2.8m.
This means it would be insolvent as at 31 December 2018 if it didn't undertake the capital raisings.
Nevermind though because this was all supposed to turn around with Golden Koala and the NCA deal...which has now all but fallen over. So back to current trading figures and if all things remain equal, i find it hard to see this company surviving 2.5yrs..unless the directors can raise more capital.
I'm out.
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